Ethereum Price Prediction: Daily Active Addresses at 2-Year Peak – What Does This Mean for ETH’s Value?

Ethereum is back in the spotlight—not for the price, but for the activity. Ethereum daily active addresses have hit 841,100, the highest since 2022. This metric tracks how many unique addresses are involved in ETH transfers each day and is considered a proxy for user engagement on the network.

The spike is a significant departure from the 600,000-range consolidation we’ve seen in recent months. While this is good for user interest, it doesn’t differentiate between buying and selling. Historically, these spikes in address activity precede volatility and this one is no exception—Ethereum’s price has pulled back sharply after the activity surge.

Ethereum $ETH daily active addresses surged to 841,100, the highest in a year, just before the recent drop below $3,500. pic.twitter.com/uHIVLcfBbH

So what does it mean? Increased transactions often mean traders are repositioning themselves, especially before major market events or key technical setups.

Glassnode reports that the 30-day moving average transfer volume of USDT has risen to $52.9 billion, recovering from 2022’s market downturn. But Ethereum’s share of USDT transaction volume has decreased.

Currently:

• Tron leads with $23 billion in USDT volume
• BNB follows at $14.9 billion
• Ethereum trails both

This drop in stablecoin settlement dominance could mean while Ethereum network activity is up, transactional preference is shifting to lower-fee chains for stablecoin usage—especially with volatile ETH gas prices.

From a price action standpoint, Ethereum price prediction is looking weaker. ETH has broken below $3,548 and failed to hold above the rising trendline that had been in place since mid-July. A bearish engulfing pattern, followed by three large-bodied red candles (like the Three Black Crows), confirms distribution.

Key signals:

• RSI at 28.97: Oversold but no bullish divergence
• 50-period SMA at $3,745 is resistance
• Lower highs and lower lows is a descending triangle

Support levels to watch:

• $3,428 (next critical zone)
• $3,331 and $3,235 (targets on breakdown)

If ETH retests $3,548 and gets rejected (e.g. shooting star), short at $3,548 with stop above $3,600 and targets at $3,428 or lower. More aggressive would be to short at $3,428 with targets at $3,331 and $3,235. Need to get back above $3,651 and the trendline to flip the bias bullish.

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