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Daily transactions on the Etherum network have risen to around 6.5 million to 5.6 million in recent months.
For the first time, Ethereum could reach $5,000 soon, thanks to rising investor demand, positive on-chain metrics, and increased network activity, as per the report.

Ether spot ETFs reached a 13-day inflow run, bringing their cumulative net flow to roughly $2 billion on Wednesday. The funds attracted their first billion dollars between July and early December, but SoSoValue data suggests that they just required five trading days to collect the next billion.

In addition, daily transactions on the Ethereum network have risen to around 6.5 million from 5.6 million in recent months. This is an increase in conjunction with 5 million daily transactions in 2023, indicating higher network activity.

Total supply of ETH reached 120 million, the highest since April 2023. However, the amount of ETH being burned (permanently removed from circulation) has been increasing since September.

Burns involve permanently removing tokens from circulation by sending them to a wallet no one controls. As network activity and demand increases, the burn rate goes up, slowing ETH supply growth and creating deflationary pressure.

Higher network traffic on Ethereum demonstrates the rising usage and demand for decentralized applications. Furthermore, it results in more ETH burnt through transaction fees, which can put deflationary pressure on the overall ETH supply because the burn rate might outstrip issuance during moments of heavy activity.

These factors are setting up Ether (ETH) to potentially reach new all-time highs, surpassing its 2021 peak. CryptoQuant believes that if current demand and supply trends continue, ETH could rise above $5,000.

They also noted that the current upper limit for ETH’s price, based on the average price at which holders bought their ETH, is around $5,200. This price point marked ETH’s peak in the 2021 bull run, but as new buyers enter the market, this upper price limit is expected to keep rising.

The recent rise in Ethereum’s price has dramatically brought up the total value of assets locked within its ecosystem, which reached $77 billion on Thursday, the biggest since January January 2022.

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Ethereum$ETH (ETH) is gaining strong bullish momentum after breaking out of a falling channel pattern, signaling a potential continuation of its upward trend. Traders and analysts are closely watching as ETH reclaims key levels and sets its sights on higher resistance zones in the days ahead.

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✨ Technical Overview

After a period of consolidation within a descending channel, Ethereum has successfully broken out, confirming a shift into bullish territory. The breakout has sparked renewed optimism among traders expecting further upside.

Key Support Levels: $4,177 and $4,071

Immediate Resistance Levels: $4,523 and $4,709

Next Price Targets: $4,617 and $4,749

Stop-Loss Zone: Around $4,173

FTI Algo Trend Rating: Bullish Excellent (Score: 85)

The breakout suggests Ethereum is poised for another leg higher, with $4,700 emerging as the next major hurdle. If buyers manage to push through this zone,$ETH ETH could extend gains toward Fibonacci extension levels near $4,900 and potentially beyond.

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📊 Chart Insights

The daily chart shows Ethereum’s decisive move above the falling channel, a classic reversal signal often followed by sustained bullish runs. Momentum indicators reflect medium volatility, allowing price action to consolidate before another upward push.

Maintaining price action above $4,177 is crucial for bulls. This support level will act as a foundation for the next breakout attempt toward the $4,700–$4,900 range.

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🌍 Market Context

Ethereum’s bullish momentum aligns with wider optimism across the cryptocurrency market. Several factors are contributing to ETH’s strength:

Rising institutional interest in Ethereum-based products

Growing on-chain activity and developer engagement

Favorable macro conditions and improving investor sentiment

If the broader crypto environment remains supportive, Ethereum could emerge as one of the top performers this quarter.

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💡 Final Thoughts

Ethereum’s technical setup remains solidly bullish.
As long as ETH stays above $4,177, the path of least resistance points upward. A breakout above $4,700 would confirm further upside potential, opening the door to new highs around $4,900 and beyond.

For traders, the strategy is clear:

Watch support at $4,177 to confirm trend strength

Target $4,523 → $4,709 → $4,900

Manage risk with stop-losses near $4,173

With momentum building and sentiment improving, Ethereum could be gearing up for another strong quarter ahead

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📈 Summary:
✅ Bullish breakout confirmed
✅ Support: $4,177
✅ Resistance: $4,523 / $4,709
✅ Target: $4,900+
🚀 Outlook: Bullish

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