- ETH remains bullish as long as price holds above $2,800.
- Daily active addresses exceed 500K for two straight days.
- Gas usage reaches 162B, highest daily total in Ethereum history.
Ethereum is pushing upward again, drawing close to a major resistance level. Traders are monitoring its momentum as it approaches the $4,100 mark. Network activity is also spiking, with gas usage reaching a record high. Analysts say all indicators are aligning for a potential breakout, though caution remains on short-term pullbacks.
ETH Nears $4,100 Resistance as Traders Watch Pullback Levels
Ethereum ($ETH) continues its upward trend, currently trading at $3,727 with a 2.67% gain in the last 24 hours. Daan Crypto Trades analysis shows that ETH is gradually approaching its previous cycle high of around $4,100. This level is seen as a key resistance zone, with notable liquidity sitting just above it. The analyst noted that while a direct surge to $4.1K is not inevitable, price action suggests it’s likely to be tested soon.
The chart also outlines strong support levels at $2,815, $2,198, and $2,106. Daan highlighted that as long as ETH stays above $2,800, the overall trend remains bullish. Short-term pullbacks into the low $3,000s could offer favorable entries for long-position traders. The long-term target remains the all-time high of $4,868, last seen in November 2021.
Ethereum Network Activity Surges to Multi-Year Highs
Alongside the price momentum, Ethereum’s on-chain activity is reaching new heights. CryptoRank data show that daily gas usage on July 24, 2025, hit an all-time high of 162 billion units. This marks a surge in demand across the Ethereum network, reinforcing its central role in DeFi, NFTs, and blockchain infrastructure.
For the first time since March 2024, daily active addresses exceeded 500,000 for two consecutive days. Weekly transaction volume has also risen sharply to 10.3 million the highest level since May 2021. These indicators suggest expanding user engagement and sustained demand across Ethereum-based applications.
Analysts suggest that the increase in gas usage reflects heightened ecosystem activity and could influence future price action. While network scalability remains a concern, the current data highlights Ethereum’s growing utility in the broader crypto market.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
