Plenty new ETH wallets and better feel wey holders get dey show say e fit move go $3,700
Ethereum (ETH) see big jump for new wallet creation for December, wit Santiment talk say daily spikes near 196–197K and daily average round 163K. Active sending addresses and daily network growth climb reach multi‑month highs, give about 25% increase for network activity vs November and about 12% rise for active addresses. Holder sentiment switch from negative for November to neutral–positive by mid‑December, show say long‑term holders dey sell less. Even wit these on‑chain improvements, ETH dey trade inside range near $2,800–$3,300 for several weeks, and trading volume still low pass October averages. Analysts (including Merlijn The Trader and others wey cite historical parallels from 2015–2018 and 2024 patterns) see the steady wallet inflows and reaccumulation as sign of renewed demand and possible upside — one projection dey target move toward $3,700 and ETH to outperform BTC for the ETH/BTC pair. Key trading signals to watch: continued new wallet inflows and active‑address growth to confirm demand; decisive rise in volume (20%+ above recent averages) to validate breakout; and price structure around $2,860–$2,900 for accumulation risk management. Watch resistance near $3,700 and leverage/retail participation metrics wey fit amplify any move.
Bullish
Di combine report dem show say demand side fundamentals for ETH dey improve: new wallet creation don rise sharply, active addresses don increase, and holder sentiment don shift — all these reduce di chance say distribution go continue and increase di likelihood of accumulation‑driven upside. Historical examples wey analysts mention (similar sustained wallet growth wey happen before rallies) dey strengthen di bullish case. But price still dey range‑bound and volume never confirm breakout yet; trading volumes dey below earlier highs, so momentum never fully validated. Short term: expect higher volatility around key levels ($2,860–$2,900 support and $3,700 resistance), and accumulation on dips fit be reasonable strategy for bullish traders if on‑chain inflows continue. Long term: if new wallet growth dey continue and volume pick up (20%+ above recent averages), probability of sustained breakout and bigger rally go increase. Risks include failure to lift trading volume, renewed selling by short‑term holders, or macro events wey go suppress risk appetite.