Ethereum's price is targeting $3,600 following a significant increase in mainnet activity. The cryptocurrency has formed a rare diamond pattern around the $2,900 support level, indicating a potential trend reversal after a recent correction from over $3,300. Analysts are closely monitoring this pattern, which could lead to a price surge if it breaks upwards, with projections reaching $3,300 and possibly $3,600. However, a breakdown could see Ethereum retesting the $2,800 region.
The Ethereum mainnet has surpassed major layer-2 networks in daily active users, reaching 945,000 addresses. This increase follows the Fusaka upgrade, which reduced gas fees and attracted more users back to the base layer. However, the rise in activity is partly attributed to address poisoning scams, which artificially inflate transaction volumes. Despite these challenges, Ethereum remains the leading blockchain for tokenized assets, holding 56% of the stablecoin supply and 66% of tokenized real-world assets, according to ARK Invest and RWA.xyz.
Ethereum Eyes $3,600 as Mainnet Activity Surges
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