Surge in Ethereum trading activity as analysts predict a breakout to $100,000

• The number of Ethereum transactions has reached an all-time high since 2023, with activity rising in the chain.
• Analysts expect it to reach $3,200 against its $10,000 target.
• The Altcoin season indicators are flashing, and Ethereum may lead the next great rally.

Ethereum’s network has recorded its highest transaction count since 2023, with over 1.5 million people seeing daily interactions based on recent cryptographic data. This increase suggests that activity will increase amid growing interest among investors. At the same time, ETH trades for $2,427, with a 24-hour volume of $11.74 billion and a market capitalization of $29.37 billion, indicating a stable traction in the face of market volatility.

Prices are below $2,500, but analysts are focusing on the visible divergence between network activity and price integration. Active address metrics also show a modest rise, with over 356,000 unique daily users taking part on-chain. This suggests that more Ethereum wallets interact with the blockchain, increasing user-level engagement between smart contracts, NFTs, and Defi protocols.

Analysts are aiming to breakout for Wyckoff for over $3,200

Crypto analyst Mikybull tweeted that Ethereum recently successfully completed a re-accumulation test for Wyckoff. Chart-based technical analysis shows that the integration or revision period may be completed and breakout trends may occur. He identified the $3,200 range as a potential breakout point, highlighting the possibility of a bull run.

Reflecting this view, Xforceglobal labeled Ethereum’s price action as “objectively bullish” after heading towards $2,800. Using Elliott Wave analysis, he predicted a rally to $9,400. Historical cycles and updated accumulations between whales support this outlook and are consistent with current surges in transactions and addresses.

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Market analyst Michel Van des Poppe also contributed, saying ETH’s position is structurally strong, above $2,400. He showed that as long as the 100-hour SMA holds, the market may be seeing a good view of higher upward resistance in the near future. It was rejected for around $2,520, but ETH had a strong sense of support in its structure. This shows resilience.

Altcoin season indicator adds momentum

Ethereum’s activities have been booming recently due to the precursors of the impending altcoin season. The index for the Altcoin season is beginning to flash, with multiple analysts predicting a wide range of gatherings across non-Bitcoin assets. Ethereum’s ranking as the second largest crypto asset could potentially be a leader in this next leg of growth.

Bitcoin’s dominance increased to 65.77%, but records show that Altcoins tend to get better in the following weeks when Bitcoin’s domination reached around 70%. As Ethereum foundations converge into on-chain, technical analysis and broader markets, investors are ready and anticipating potentially significant price increases.

Source: CoinMarketCap

Ethereum is gaining traction towards a major breakout as key indicators continue to rise in value. According to analysts, if the trend continues, ETH can revisit $3,200 and move on to new highs between the $9,000-$10,000 area.