Ethereum’s active user count has surged to nearly 8 million, indicating robust adoption despite price stagnation. The increase in on-chain activity and low transaction fees has made the ecosystem more appealing.
Currently, ETH struggles below the 200-day EMA which limits bullish momentum. A breakout could lead to prices in the range of $3,800-$4,000, while failing to hold could see it retreat to $2,700.
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