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After the level of $3,300, the price of Ethereum is now testing a technical area that can determine if the market is preparing for an attack towards $4,000 or preparing for another pullback.
Meanwhile, key indicators point to renewed hope for 2026, adding credibility to the possibility of a move to $4,000.
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Ethereum is testing key resistance at $3,450 with $4,000 emerging
The price of Ethereum has exceeded An important obstacle After breaking above $3,300, it now faces a decisive test, needing to recover the level of $3,450. According to analyst Ted Bellows, once that happens, a path toward $4,000 could easily follow.
“ETH has hit $3,300. Ethereum should claim $3,450, and a quick rally towards $4,000 could happen.” books blow
However, a rally is not guaranteed, as rejection from the $3,450 resistance zone could nullify the potential rally.
What makes this installation different from previous attempts is what is happening below the surface. While price action remains relatively contained, Ethereum activity on the chain is accelerating at a pace rarely seen before.
Data shared by BMNR Bulls shows that Ethereum registered 393,600 new wallets in a single day, marking the highest new number ever.
Last week, new wallet creation averaged around 327,000 per day, pushing the number of non-empty ETH wallets to a record high. According to the BMNR Bulls Index, this growth is not driven by speculative price hunting.
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“This is not price-driven speculation,” As she said The newspaper. “It is driven by lower fees after Fusaka, records stablecoin establishment activity, real users joining applications, payments and decentralized finance.”
Ethereum network activity reaches new highs despite range-bound price
This growth in adoption is clearly visible in the transaction data. notice Researcher Joseph Young said that weekly users transacting on Ethereum set a new record, with 889,300 users actively using the network every week.
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He attributed the growth to Ethereum’s dominance over stablecoins, decentralized finance and trading platforms such as Uniswap.
“…Post-Fusaka Ethereum is developing very effectively,” He added.
Analyst Leon Weidmann echoed this trend, noting that the volume of transactions in the Ethereum ecosystem continues to grow.
Elsewhere, technical analysts, including Kyle Dobbs, highlight the growing divergence between price and fundamentals.
“Bryce is quiet. The network has not.” He saidnoting the creation of standard wallets, increasing transaction numbers, and staking ETH at all times. According to Dobbs, this disconnect is “worth monitoring as January progresses.”
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Great players also make moves. Onchain data tracked by Onchain Lens shows that the cheap wallet “pension-usdt.eth” recently closed a long position investing in ETH at a dividend. Thus, they made a profit of $4.72 million from the deal.
Overall, the portfolio generated around 27 million dollars in European credit profits, which reflects the amount of capital actively concentrated around Ethereum’s recent rally.
At the same time, institutions are becoming more optimistic. Standard Chartered also said He said it Walter Bloomberg, said that the prospects of Ethereum have improved and that the asset is likely to surpass Bitcoin.
The bank highlighted Ethereum’s leadership in stablecoins, real-world assets and decentralized finance, along with the network’s high data throughput and potential for clarity from US regulation. According to Standard Chartered, Ethereum is expected to reach $7,500 this year and $30,000 by 2029.
With adoption, activity and institutional interest accelerating, Ethereum’s test of the $3,450 level could be crucial for short-term price action, and even if $4,000 becomes a reality any time soon.
