Ethereum's daily volume hits a new high, but the price lags behind! Is ETH brewing for a breakthrough at the ten thousand dollar level?

Ethereum (ETH) blockchain has recently seen a surge in network activity, with daily volume skyrocketing to historic highs, and on-chain participation and the number of unique addresses reaching record levels. However, despite the strong fundamentals, the ETH price has yet to break through key resistance, leading the market to question its future trajectory. This article will combine on-chain data, technical charts, and market perspectives to delve into the logic behind the disconnect between ETH price and network activity, while also looking ahead to potential explosive opportunities.

Ethereum network activity reaches an all-time high, fundamentals strong

According to CryptoOnChain data, the daily transaction volume of ETH has surpassed 1,550,000, setting a historical record. On August 5th, the total number of unique Ethereum addresses reached 332 million, with over 200,000 new wallets added in a single day, indicating a continuous influx of new users into the ecosystem. These on-chain signals suggest that the Ethereum network infrastructure is steadily expanding, laying a solid foundation for future price increases.

The price has been unable to break through for a long time, and the market has entered a critical accumulation period

Despite the bullish on-chain data, the ETH price is currently still below the major resistance zone and has failed to reach a new high. Analysts believe that this phenomenon of "strong fundamentals and weak prices" may indicate that the market is in a stage of accumulation by institutions and long-term capital. If network activity continues to rise, ETH may welcome a new wave of upward momentum.

Technical charts indicate a major market movement, with a target price potentially reaching 9,000 USD

Technical analyst Titan of Crypto pointed out that the ETH monthly chart is currently compressed within a large triangle formation. If it can successfully break through, the target price is expected to reach $8,000. Another analyst, Gert van Lagen, is also optimistic about the resonance of ETH's technicals and fundamentals, predicting that the price may challenge $9,000. These predictions are based on positive signals such as on-chain supply tightening and a decrease in exchange ETH holdings.

Exchange ETH holdings decline, supply tightening effect intensifies

In the past two weeks, over 1 million ETH have flowed out of centralized exchanges, indicating that long-term funds continue to accumulate. This phenomenon has intensified market expectations for supply tightening, providing a potential catalyst for a future ETH price surge. As of the time of writing, ETH is priced at $3,590; although there have been short-term fluctuations, the long-term structure remains healthy.

Conclusion

Ethereum's daily trading volume and network activity have reached new highs, but the price is currently lagging, accumulating energy for the next major market movement. As on-chain data and technical charts strengthen in sync, ETH is expected to reach historical new highs in the ten thousand dollar range after breaking through key resistance. Investors should closely monitor network activity, exchange holdings, and technical patterns to seize potential breakout opportunities.