Ethereum has been on a wild ride lately! After a huge price jump starting in late April, it briefly touched almost $3,850 before settling back a bit around $3,750. Some are worried the party’s over, but others think this is just a breather before another big move upwards.
On-Chain Volume Explodes
A top crypto analyst, Ted Pillows, points to some exciting data: Ethereum’s on-chain volume has exploded—a whopping 288% increase in just three weeks! This shows a lot more activity and renewed interest in Ethereum. This surge suggests big money is flowing in, boosted by positive changes in US regulations and a generally more optimistic market outlook. Analysts think this current price stability might be a great time to buy before the next price increase.
Altseason Incoming? Ethereum Takes the Lead
Ethereum’s on-chain USD volume has hit $10.38 billion—its highest point since late 2021! This massive increase shows a major shift in how people feel about Ethereum and could signal a big change for Ethereum and other altcoins. After lagging behind Bitcoin for a while, Ethereum is now outperforming it, and this positive momentum is spreading to other altcoins. Many believe this could be the start of the long-awaited “altseason”—a period where altcoins outperform Bitcoin.
This is a particularly exciting time because of a combination of positive technical indicators and good news from the outside world. Regulations in the US are improving, institutional investors are getting involved, and the market shows signs of people buying
rather than selling. Pillows’ data suggests that smart money is betting on a new cycle led by Ethereum and decentralized finance (DeFi). While a small price drop is possible, the overall feeling is very bullish.
Ethereum’s Price: Breakout or Pullback?
Ethereum is currently trading around $3,770, holding steady just below the $3,860 resistance level. Charts show a clear upward trend, with Ethereum making higher lows since mid-July and repeatedly testing this upper price limit—forming what’s called an ascending triangle, which usually means the price will continue to go up. The 50-day moving average is acting as support, and other indicators also point upwards.
If Ethereum breaks through $3,860 with increased trading volume, the next big target is $4,000. However, if it fails to break through, a short-term dip to the $3,690–$3,650 range is possible. But if the positive momentum continues, Ethereum could be poised for another significant price increase, potentially confirming a broader altcoin rally.