Ethereum’s on-chain activity is heating up, and price action tends to follow this growing engagement. Rising active addresses indicate that existing users are interacting with the network more frequently, while the surge in new addresses reflects a steady influx of fresh participants. 

These metrics suggest that ETH growth is being driven by genuine utility, rather than pure speculation. If these daily transactions persist, ETH could be entering a new phase where fundamentals and market sentiments begin to align, as the ETH engine runs hotter than ever.

Is Ethereum Positioning For Market Leadership?

Ethereum on-chain activity is quietly but decisively gaining momentum. According to Cas Abbe’s post on X, ETH’s daily transactions have now climbed to their highest levels in more than a year, which is a sign that network usage is not just holding steady, but also accelerating. 

Data shared by the expert shows that the number of daily transactions stands at about 1.7 million. This surge in activity suggests that ETH’s fundamentals are strengthening, even if price action hasn’t fully reflected it yet.

Presently, more users are engaging with the ETH network, as both active addresses and new addresses trend sharply upward. This is more than short-term trading noise; it’s a sign of real adoption and sustained network usage.

While daily transactions have spiked, the EIP-1559 upgrade has continued to act as a quiet and powerful force in Ethereum’s economics by permanently removing ETH from circulation over time, leading to a tightening supply. Despite recent market volatility, Cas Abbe highlighted that the net ETH emissions remain near neutral, which means that the ETH supply dynamics are becoming increasingly tight.

This combination of rising network usage and limited net supply is a powerful market signal. It shows that ETH momentum isn’t being driven by short-term hype, but by genuine, sustained demand for block space and the service built on its network, and long-term fundamentals.

Could Strategic Accumulation Mark The Start Of A New Bull Phase?

Ethereum continues to experience notable growth in several key areas. Recent reports revealed that ETH’s strategic reserve has exploded in size over the past few months, signaling a dramatic shift in market positioning. 

An analyst known as Crypto Patel stated on X that back in April, the ETH strategic reserve stood at around $200 million. Meanwhile, today, the reserve has surged to an astonishing $10 billion, which reflects a 50% increase in just four months.

The sharp growth in the ETH strategic reserve is more than just a big number; it’s a clear signal of strong accumulation and deep long-term confidence in the ETH network’s future. It also suggests staking growth and large-scale capital repositioning ahead of ETH’s next potential catalysts.

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Dogecoin started a fresh increase from the $0.0985 support against the US Dollar. DOGE could gain pace if it clears the $0.1085 resistance.

• DOGE price is eyeing an upside break above $0.1085.
• The price is trading above the $0.100 level and the 100-hourly simple moving average.
• There was a break above a key bearish trend line with resistance at $0.1030 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could rally if it clears the $0.1060 and $0.1085 resistance levels.

Dogecoin Price Rises Again

After a steady decline, Dogecoin price found support near the $0.0985 level. A base was formed, and DOGE started a decent upward move like Bitcoin and Ethereum. There was a move above the $0.1020 and $0.1040 resistance levels.

Besides, there was a break above a key bearish trend line with resistance at $0.1030 on the hourly chart of the DOGE/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $0.1084 swing high to the $0.0985 low.

Dogecoin price is now trading above the $0.1040 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1050 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.1084 swing high to the $0.0985 low.

The next major resistance is near the $0.1060 level. A close above the $0.1060 resistance might send the price toward the $0.1085 resistance. Any more gains might send the price toward the $0.1150 level. The next major stop for the bulls might be $0.1200.

Another Rejection In DOGE?

If DOGE’s price fails to climb above the $0.1060 level, it could start another decline. Initial support on the downside is near the $0.1030 level and the same trend line. The next major support is near the $0.1020 level.

The main support sits at $0.0985. If there is a downside break below the $0.0985 support, the price could decline further. In the stated case, the price might decline toward the $0.0920 level or even $0.0885 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1030 and $0.1000.

Major Resistance Levels – $0.1060 and $0.1085.

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