⚡ Ethereum Network Hits Record Activity — But Price Faces Stiff Resistance
Ethereum rose 29% last week and is reaching its 2021 high of $4,800. ETH is now trading around $4,662, within range of the $4,750–$4,800 resistance zone, a critical market supply region.
This price shift corresponds with record network activity and on-chain flows that experts think might affect short-term prices.
Ethereum Record Network Activity Faces Price Resistance
CryptoQuant contributor CryptoOnchain reports 1.875 million Ethereum transactions per day, a record.
A technical and fundamental junction of strong on-chain indicators and a significant price level might decide Ethereum's future move.
A breach over $4,750 and sustained transaction volume might push ETH into a price discovery phase, perhaps exceeding its historical top. Sellers may consolidate or retrace toward $3,950 if they defend this level.
The expert also warned that high network activity might indicate a market overheating, even when it follows positive price movement.
This is important as Ethereum tries a historically major resistance zone and network load is at an all-time high.
Exchange outflows indicate buying pressure
Burak Kesmeci, another CryptoQuant researcher, evaluated Ethereum net flow statistics across all exchanges. Kesmeci determined that ETH net flows remain negative, at roughly –40,000 ETH as of August 12, 2025, using the 30-day SMA30.
Over the previous month, 40,000 ETH has been outflowing everyday, coinciding with the asset's price growth.
Negative net flows suggest more ETH leaving exchanges than arriving, which may minimize immediate selling pressure and encourage holding.
Kesmeci attributed recent outflow strength to spot ETH ETF activity, indicating institutional demand has supported prices.
These reasons may be enough to push ETH over its long-standing price limit in the coming sessions, as traders look for a breakthrough or rejection at $4,750.
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