Ethereum News Today: Ethereum Rises 1.45% as OBV Gains Momentum and On-Chain Activity Surpasses 2M

Ethereum is showing signs of a strengthening bullish market structure, supported by a rising On-Balance Volume (OBV) and increasing on-chain activity. Over the past 24 hours, ETH has risen 1.45%, breaking through the $3,650 barrier and trading above $3,651.74 [1]. The OBV indicator continues to form higher lows, indicating consistent buying pressure across multiple sessions, a key sign of accumulating momentum [1]. Analysts, including IncomeSharks, have noted that as long as Ethereum maintains support along a key trendline, the price bias remains firmly upward [1]. A breakout above $4,000 is considered the next near-term target, provided the asset remains above critical support levels [1].

The network activity surrounding Ethereum has also reached a significant milestone. Daily transactions have surpassed 2 million, the highest level of the year in 2025 [1]. This surge in on-chain usage suggests a growing demand for Ethereum’s infrastructure, likely driven by decentralized finance (DeFi), non-fungible tokens (NFTs), and smart contract interactions. The increased usage can potentially translate into higher transaction fees and stronger utility for the native token, further supporting ETH’s price action [1].

Ethereum’s technical setup is complemented by historical patterns that could reinforce its upward trajectory. Analyst Alek has drawn attention to Ethereum’s average performance in August following Bitcoin halving events. In past cycles, ETH has gained an average of 64.2% during this month [1]. If this historical trend repeats, Ethereum could potentially approach the $5,000 level by the end of the month. This observation gains added relevance in light of Bitcoin’s recent halving and the broader market’s reaction to macroeconomic conditions [1].

The current price action and on-chain metrics reflect a market that is well-positioned to continue its rally, provided key support levels remain intact. While the OBV trend supports a bullish outlook, analysts emphasize the importance of maintaining vigilance. For example, IncomeSharks has noted that the only scenario in which they would consider a bearish adjustment is if Ethereum were to lose support at a critical trendline [1]. This cautious stance highlights the balance between optimism and strategic risk management in the current environment.

Ethereum’s rise appears to be driven by both fundamental and technical factors. Stronger network activity, confirmed buying pressure via OBV, and favorable historical patterns create a compelling case for continued upside. With growing confidence among traders and investors, the focus now shifts to whether Ethereum can sustain the current momentum and break above $4,000, potentially setting the stage for a larger move toward $5,000.

Source: [1] Ethereum Builds Bullish Structure as OBV Rises, Eyes Break Above $4K (https://cryptofrontnews.com/ethereum-builds-bullish-structure-as-obv-rises-eyes-break-above-4k/)