Having breached the respectable 3,300 threshold, Ethereum now finds itself before a technical gate; the next move-toward a dashing 4,000 or a dreary retreat-will tell us if the market has learned manners or merely how to sigh dramatically.
Meanwhile, the metrics do their best to sound optimistic for 2026, lending credible-sounding reasons to suppose a dash toward 4,000 could be not entirely ridiculous. 💡
Ethereum Tests Key $3,450 Resistance as $4,000 Comes into Focus
The Ethereum price has already cleared a notable hurdle by surmounting 3,300, yet faces a decisive exam, needing to reclaim 3,450; once there, the path to 4,000 could, to borrow a phrase, become a brisk promenade rather than a slog.
“ETH has cleared above the 3,300 level. Ethereum needs to reclaim the 3,450 level, and a rapid rally towards the 4,000 level could occur,” quoth Pillows, with the solemnity of one who prescribes tea at dawn.
Nevertheless, the rally is not guaranteed; a rejection at 3,450 would spoil the fun and perhaps send us back to the drawing room of caution.
What marks this moment out from its predecessors is not the ghost of price action but what lies beneath. While price action remains shy, Ethereum’s on-chain activity surges with the zeal of a debutante entering a ballroom full of wallets. 💃
Data shared by BMNR Bulls shows Ethereum recorded 393,600 new wallets in a single day, marking a new all-time high.
Over the past week, new wallet creation averaged around 327,000 per day, pushing the number of non-empty ETH wallets to a record level. According to BMNR Bulls, this growth is not driven by speculative price chasing.
“This isn’t price-driven speculation,” the post said. “It’s driven by lower fees post-Fusaka, record stablecoin settlement activity, and real users onboarding into apps, payments, and DeFi.”
Ethereum Network Activity Hits New Highs Despite Rangebound Price
That adoption surge is clearly evident in transaction data. Network researcher Joseph Young noted that weekly transacting users on Ethereum have reached a new record, with 889,300 users actively using the network each week.
He attributed the growth to Ethereum’s dominance across stablecoins, DeFi, and trading platforms such as Uniswap.
“…post-Fusaka ethereum is scaling VERY effectively,” he added.
Analyst Leon Waidmann echoed the trend, noting that transaction volumes across the Ethereum ecosystem continue to rise.
Number of transactions processed across the ETH ecosystem keeps trending higher! 📈
Overall activity remains on a steady growth trajectory, with new all-time highs being set consistently over the past couple of months.
January is starting a bit slower so far, but the bigger…
– Leon Waidmann 🔥 (@LeonWaidmann) January 14, 2026
Elsewhere, technical analysts, including Kyle Doops, highlight the growing divergence between price and fundamentals.
“Price has been calm. The network hasn’t,” he said, noting record wallet creation, rising transaction counts, and ETH staking at all-time highs. According to Doops, that disconnect is “worth watching as January unfolds.”
Large players are also making moves. On-chain data tracked by Onchain Lens shows the whale wallet “pension-usdt.eth” recently closed a leveraged ETH long position. With this, they secured a $4.72 million profit on the trade.
Overall, the wallet has generated approximately $27 million in ETH profits, reflecting the scale of capital actively positioning around Ethereum’s recent rally.
The whale “pension-usdt.eth” has completely closed its $ETH (3x) long position, making a profit of $4.72M.
Overall, he has made ~$27M.
– Onchain Lens (@OnchainLens) January 14, 2026
Meanwhile, institutions are growing increasingly optimistic. Standard Chartered, as cited by Walter Bloomberg, stated that Ethereum’s outlook has improved and that the asset is likely to outperform Bitcoin.
The bank highlighted Ethereum’s leadership in stablecoins, real-world assets, and DeFi, alongside rising network throughput and potential US regulatory clarity. According to Standard Chartered, Ethereum is forecasted to reach $7,500 this year and $30,000 by 2029.
With adoption, activity, and institutional interest all accelerating, Ethereum’s test of the $3,450 level may prove decisive for short-term price action, as well as whether $4,000 becomes a near-term reality. 😅
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2026-01-14 21:43