Together, these signals suggest that Ethereum’s current phase may be more than just sideways movement, as underlying data points to sustained demand and constructive price behavior.
Ethereum Daily Transactions Reach New HighEthereum’s price action is turning bullish with a steady increase in recent days. Notably, on-chain data shows that this increase is on top of steady on-chain activity in recent days.
The chart data from Sentora illustrates a progression showing Ethereum’s transaction count rising steadily over the years and spiking up in early 2026.
The fact that Ethereum is now processing significantly more transactions per day compared to 2021 shows that its network usage has grown above speculative behavior. The steady climb in transaction activity shows the sheer amount of usage across decentralized finance and stablecoin settlement, among many others.
A look at the 3-week timeframe shows that ETH’s market cap is holding above the 21 EMA, respecting the rising macro trendline, printing higher highs & higher lows, and compressing under historical resistance. That is constructive behavior, not weakness.
History shows that periods where Ethereum’s market cap held above the 21 EMA on this timeframe have led to expansion phases, whereas sustained moves below it have marked bear market conditions.
On the other hand, a bearish outcome will become possible if the price action loses the 21 EMA on the three-week chart. This could validate a deeper 25% to 30% correction toward the lower trendline, but this scenario carries a lower probability.
Featured image from Unsplash, chart from TradingView
