Ethereum monthly transfers surge 56.9% as ETH retests $2,200
Ethereum monthly transfers surge 56.9%, rising from 855,444 to 1.34 million in one month, according to on-chain data. Network activity increased steadily from mid-March, with notable spikes around March 25 and March 30, and daily transfer counts staying roughly between 1.25 million and 1.35 million after April began. The uptrend is linked to higher DeFi activity, more NFT transfers and renewed peer-to-peer usage.
At the same time, ETH briefly fell about 3% after US–Iran talks reportedly stalled. The pullback pushed ETH near the watched $2,200 support zone. Buyers defended just above this level, helping prevent further downside and keeping the higher-timeframe uptrend intact.
Technical focus remains on the $2,150–$2,200 range. Analyst “Ted” suggested that losing this zone could trigger a deeper sell-off, while holding it may allow another upside leg. Price is around $2,285, with near-term upside targets at $2,310, then $2,339 and $2,386 if momentum improves. Traders may also monitor the $2,233–$2,249 area for bullish confirmation; a decisive close below $2,233 could shift the short-term bias bearish, targeting $2,157 and possibly $2,087.
Overall, the Ethereum monthly transfers surge highlights strengthening demand. If support holds, it may support a bullish continuation; if it breaks, volatility risk rises.
Bullish
Ethereum monthly transfers surge 56.9% signals improving network usage, which historically tends to support a bullish bias when price action also holds key demand zones. Here, the on-chain activity rises while ETH only briefly dips and then defends the $2,200 support area, suggesting buyers are absorbing selling pressure.
In the short term, traders may treat $2,200 (and the broader $2,150–$2,200 band) as the line that determines whether the rebound continues. If ETH holds and reclaims nearby resistance levels ($2,310+), the data provides a catalyst for momentum trades. If ETH breaks and closes below ~$2,233, it could resemble prior “support failure” scenarios where bullish setups unwind quickly, increasing liquidation/volatility risk.
Longer term, sustained transfer volumes (1.25–1.35M daily after April) imply ongoing engagement from DeFi/NFT and broader network participants. Unless macro headlines reverse this flow, the combination of stronger fundamentals (usage) and defended price levels typically improves odds of trend continuation.