Ethereum Network Surge Lifts On-Chain Activity, ETH Price Lags at $2,100
CryptoQuant reports an Ethereum network surge: Total Transfer Count’s 7-day SMA has returned above 1.3 million, matching a mid-February peak. The key development is the divergence—Ethereum network activity is rising while ETH remains subdued, consolidating near $2,100 and far below its 2025 highs.
Rising transaction volume is also increasing gas usage and accelerating ETH burning via Ethereum’s fee-burn mechanism. CryptoQuant says this combination improves the odds of a mid-term “catch-up” move in ETH if the momentum holds.
Traders are watching levels closely. Ali Martinez flags $2,500 as a bullish trigger for a new upside phase. $1,800 is a major support area and aligns with the ~0.80 MVRV band near $1,880. If the structure breaks, downside targets cited are $1,550 and $1,070. Separately, Ted Pillows highlights $2,150–$2,200 as crucial support amid macro uncertainty.
For ETH traders, the Ethereum network surge is a constructive signal, but near-term direction likely hinges on whether ETH defends the $2,150–$1,800 zone.
Neutral
The reports emphasize a constructive Ethereum network surge on-chain, but they also underline that ETH price action is lagging. Short-term impact is mixed: $2,150–$2,200 is described as crucial support, and losing it could pressure ETH toward $1,800, with further downside targets at $1,550 and $1,070. Long-term/medium-term, the rising Ethereum network activity plus increased fee burn improves the fundamental narrative and raises the odds of a later catch-up move in ETH if the activity trend persists.
So the signal is supportive for ETH fundamentals, but execution depends on whether traders can defend the key support bands in the near term—keeping the overall price impact for ETH itself best categorized as neutral.