TLDR
- Ethereum demonstrates upward momentum with 5% daily gain crossing $3,200
- Network activity hits new milestone with 670,000 active addresses
- Technical patterns suggest possible move toward $4,000 resistance
- Support level identified between $2,230-$2,610 with high wallet concentration
- Historical wedge patterns indicate potential breakout scenario
Ethereum has marked a notable achievement in early 2025, pushing past the $3,200 price level with a 5% uptick in daily trading. The move comes alongside rising network activity, suggesting broader adoption of the blockchain platform.
On-chain data reveals a robust increase in daily active addresses, reaching 670,000 from the previous 400,000 recorded in early 2024. This 37% growth in network participation points to expanding use cases and growing interest in the Ethereum ecosystem.
Trading patterns show accumulation at key price levels, with particular attention to the support range between $2,230 and $2,610. This zone holds special importance due to the concentration of 62.27 million ETH spread across 11.99 million wallets.
Market analysts have noted Ethereum’s price movement occurring despite challenging macro conditions. Elite, a market strategist, points out that ETH managed to maintain its upward trajectory even in the face of hawkish Federal Reserve statements, demonstrating market resilience.
Technical indicators highlight the formation of a bullish pennant pattern, a continuation setup that often precedes further upward movement. This pattern has caught the attention of several market analysts, including WorldofCharts, who suggests the $4,000 level as a potential target.
Historical data shows similar price patterns emerging in 2021 and 2024, with the current market structure mirroring these previous formations. These patterns, known as falling wedges, have historically preceded periods of price discovery.
Trading volume analysis reveals balanced market participation, with a slight lean toward accumulation from wallets holding between 100 and 1,000 ETH. This metric suggests sustained interest from medium-sized investors in the ecosystem.

The Market Value to Realized Value (MVRV) ratio has shown interesting movements, recently dipping below its 160-day moving average. This technical indicator often provides insights into potential price movements and market sentiment.
Network metrics continue to show healthy growth beyond just price action. Transaction counts and gas usage maintain steady levels, indicating practical application of the network for various purposes beyond speculative trading.
Recent market data suggests growing institutional interest, with several analysts noting increased activity from larger market participants. This trend adds another layer of support to the current price levels.
The technical structure shows the formation of higher lows on longer timeframes, a pattern that traditionally signals building market strength. Analyst Ted emphasizes the importance of the $4,000 level, suggesting its reclamation could lead to new all-time highs.
Short-term market dynamics show decreased volatility as prices consolidate above $3,200. This compression in price movement often precedes larger directional moves, according to market technicians.
On-chain metrics reveal strong holder behavior, with long-term investors maintaining their positions despite market fluctuations. This stability in the holder base provides underlying support for current price levels.
The network’s growth extends beyond pure price metrics, with development activity and protocol improvements continuing at a steady pace. These fundamental improvements support the long-term value proposition of the network.
The recent price movement has brought Ethereum within 33% of its previous all-time high, creating renewed interest in potential price targets among market participants.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support