Ethereum Transactions Surge 1.45 Million Daily, Price Holds Above $2,500

Ethereum's daily transactions have surged to 1.45 million, matching the highs seen in 2021. This increase in user activity and demand from decentralized finance (DeFi) applications has fueled a bullish momentum for the network. The price of Ethereum has been holding steady between $2,450 and $2,500, with traders closely monitoring the $2,700 resistance level. Despite a recent death cross, Ethereum has managed to reclaim its range midpoint after a bounce from June lows, maintaining a bullish structure.

Ethereum is currently trading within a range of $2,100 to $2,900, with the current price at $2,574.61. Throughout June and July, the $2,450-$2,500 zone has provided strong mid-range support, resulting in multiple rebounds. With Ethereum reclaiming this level, traders are now focusing on the $2,700 mark to determine whether the price will continue to rise or face rejection.

According to CryptosBatman, the blue rectangle between $2,450 and $2,500 has served as an equilibrium zone for Ethereum over the past two months. This area has acted as both support and resistance, confirming its technical importance. The pullback from $2,700 has not broken this zone, maintaining structural clarity. Tracking the stochastic oscillator, CryptosBatman reports a recent death cross with values at 68.20 and 55.70. Despite this signal, price candles have reclaimed the range midpoint with conviction since the June 24 low. A bounce from this zone would add confidence, but momentum remains weak unless volume steps in.

While the chart trades sideways, Ethereum’s daily transaction volume is now brushing against its previous all-time high. Over 1.45 million transactions per day are being processed, rivaling the peak activity levels from the 2021 bull cycle. This uptick signals heightened on-chain engagement from both decentralized apps and long-term participants. In analyzing this trend, Merlijn The Trader outlines Ethereum’s steady climb from mid-2024. He points to Epoch 253228 as the moment when activity surpassed 1.35 million daily transactions. From his perspective, Ethereum’s consistency here reflects a network driven by usage rather than speculation.

Merlijn The Trader also mentions that the transaction count never collapsed post-2021, holding above 700,000 through 2023. This stretch, followed by a breakout, adds weight to Ethereum’s bullish macro narrative. With both transaction velocity and price testing critical zones, Ethereum’s next breakout depends on fresh volume. Traders now watch $2,700 and $2,900 closely, while the 1.5 million transaction mark reinforces the network’s long-term trend.