The activity of the Ethereum network heats up because the costs reached $ 1.4 million in 24 hours

Ethereum recently suffered a sale pressure, taking a break on the incessant bullish momentum which, earlier this year, pushed ETH to new peaks of all time. After an aggressive impulse that started in April, the second largest cryptocurrency by market capitalization now shows signs of fatigue, analysts discussing whether it is simply a healthy correction or the first stages of a deeper withdrawal.

For some, the recharging time is a natural sniff after months of parabolic growth, giving the market a chance to reset itself before its next higher leg. However, the risks of prolonged correction ride, especially since investors are reassessing assessments in the wider cryptography landscape.

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Despite the current uncertainty, the key data from Artemis suggest that the activity of the Ethereum network is far from cooling. Onchain metrics show an increasing demand for block space, higher transactions volumes and a coherent activity in decentralized financing ecosystems (DEFI) and layer 2.

This divergence between price action and underlying use indicates solid fundamentals, even if short-term traders lock the profits. The coming weeks will be essential to determine if Ethereum stabilizes above key support or shifts in a deeper correction, the strength of the network potentially serving the anchor which maintains the long-term bulls.

Ethereum costs highlight the strength in the middle of uncertainty

Ethereum continues to demonstrate its domination in the cryptography ecosystem, even if price action faces the pressure of wider market conditions. According to Artemis data, shared by analyst Ted Oreads, Ethereum generated $ 1.4 million in network fees yesterday – the highest among all blockchains.

This figure underlines the rooted position of Ethereum as the most used intelligent contract platform, strengthening its fundamental strength. A high generation of costs is often linked to the growing demand for block space, challenge and activity requests for layer 2, which all indicate to a sustained public service, regardless of short -term market oscillations.

This leadership coherent of costs provides a solid case for the long -term upward continuation of Ethereum. Even during consolidation periods, the ability to generate higher income than competitors highlights the resilience of its network and the role rooted in the crypto infrastructure. Investors often consider these measures to be signals of sustainable value, suggesting that Ethereum remains well positioned for the next wave of capital entries once market conditions are stabilized.

However, the macroeconomic backdrop influences the immediate trajectory of Ethereum. In the United States, benled work data has injected new uncertainty into the markets, even if expectations increase that the federal reserve will ultimately be forced to reduce rates due to the persistent low labor market. This policy of fighting war creates volatility between risk assets, including crypto. For Ethereum, this means that the fundamentals remain strong, but the price action is at the mercy of external economic signals.

In the end, Ethereum is at a critical intersection: its network activity and its dominance of the costs support an upward perspective, but macro-macro pressures continue to dictate a short-term direction. That the ETH resumes its upward trend or prolongs its correction may depend as much on the policy of the federal reserve as on its own fundamental momentum.

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Price analysis: key resistance to come

Ethereum is currently negotiating at $ 4,330, consolidating after a net rally which brought the price higher at the level of $ 4,800 earlier this month. The weekly graph shows that ETH holds the field following a strong escape, with bulls by successfully recovering the key mobile averages. The SMA from 50 weeks to $ 2,931 and the SMA from 100 weeks to $ 2,874 are now well below current price levels, strengthening the upward structure of Ethereum. Even the 200 -week SMA at $ 2,443 turned into distant support, highlighting the strength of the recent movement.

While Momentum remains on the side of Ethereum, the graph also signals a certain caution. Rejection nearly $ 4,800 shows that sellers are active at higher levels, creating short -term resistance. As long as ETH maintains more than $ 4,000, however, the ascending trend remains intact, consolidation potentially serving as the next higher attempt. A decisive rupture greater than $ 4,800 would open the door to retest the psychological barrier of $ 5,000 and possibly set new peaks of all time.

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Looking down, losing $ 4,000 could trigger deeper retractions, $ 3,600 emerging as the first key support. Overall, Ethereum is in a strong technical position, but its next major movement will depend on the question of whether the bulls can bring together enough momentum to overcome the resistance and prolong the rally.

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