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ETH Ethereum holds on to key support levels, with the number of network addresses surging to 212,560
Ethereum currently remains above a major support level as market participants are closely monitoring its price movements and online activity. Currently, ETH is trading at US$1,878.05, with 24-hour trading volume reaching US$2.89 billion, and a total market value of US$226.67 billion.
ETH holds on to key support, targeting US$2,000
Analyst Ted pointed out that Ethereum is still above the US$1,850 support area, which is critical to the current market structure. Buyers still appear to be holding on to positions, offsetting recent selling pressure. This price range continues to provide the basis for potential short-term bullish momentum.
Ethereum faces direct resistance around $1,920. If ETH can break this barrier with strong trading volume, some analysts believe that prices are expected to rebound further and approach the psychologically important level of US$2,000. On the contrary, if it fails to break through US$1,920 or falls below US$1,850, it may indicate another weakening in the short term.
Ethereum has established US$1,850 as a key support, and buyers remain engaged despite market volatility. If the resistance level of $1,920 can be exceeded, it may push prices up further and is expected to move towards $2,000.
Network adoption and accelerated address growth
Ethereum's network activity continues to increase, reflecting increased user engagement. According to Ali Charts, the number of new ETH addresses per day has climbed from 121,210 on August 8 to the current 212,560. The surge in new addresses suggests that participation in decentralized finance (DeFi), decentralized applications (DApps) and related ecological activities is increasing.
The continued growth in active addresses is often seen as a signal of rising demand, which helps support the positive outlook for ETH. Market participants are watching these trends closely to identify potential bullish fundamentals.
(Note: Ali Charts is a well-known blockchain analytics provider known for publishing on-chain data trends and market indicators for major cryptocurrencies such as Ethereum and Bitcoin.)
Specific data: The number of new ETH addresses per day on August 8 was 121,210, and currently it is 212,560.
The market outlook remains cautious in the overall trend
Despite positive online indicators and optimism among some analysts, Ethereum prices are still fluctuating within the neutral range. The overall market environment has also had an impact. Bitcoin has recently been under downward pressure, which has in turn affected the sentiment of the entire cryptocurrency market.
The direction of Ethereum's price will depend on whether it can hold on to the US$1,850 support while challenging the US$1,920 resistance. A decisive breakthrough above the resistance level could push prices towards the $2,000 mark, driven by growing address numbers and rising adoption rates.
The growth of new ETH wallets and active users will help maintain a positive market narrative in the short term, provided that key technical levels are effectively defended.
Overall, market participants will continue to focus on key support and resistance levels, as well as fluctuations in network participation, to judge the next major trend for Ethereum.
