Ethereum daily transactions hit 1.45M, matching 2021 highs as user activity and DeFi demand drive fresh network momentum.
Price holds between $2,450–$2,500 as traders eye $2,700 resistance amid weakening momentum and sideways chart movement.
Despite a death cross, Ethereum reclaimed its range midpoint after a bounce from June lows, keeping bullish structure alive.
Ethereum has returned to a critical resistance zone near $2,700 while daily on-chain transactions approach all-time highs. The technical structure remains locked inside a range as both chart behavior and network usage intensify in July.
Ethereum is trading between $2,100 and $2,900, with a current price of $2,574.61.Throughout June and July, the $2,450-$2,500 zone provided strong mid-range support, resulting in many rebounds. With ETH reclaiming this level, traders now monitor the $2,700 mark for continuation strength or rejection behavior.
https://twitter.com/CryptosBatman/status/1941176176657023453
According to CryptosBatman, Ethereum has repeatedly used the blue rectangle between $2,450 and $2,500 as equilibrium. He explains this area has served as both support and resistance, confirming its technical importance across the past two months. From the price action, he adds that 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. He notes that a bounce from this zone would add confidence, but warns momentum remains weak unless volume steps in.
Network Activity Surges to Match 2021 Peaks
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.
Source: (X)
He 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. Can this pace be sustained into the next quarter, or will the price catch up to usage?
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.
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