- Ethereum’s first two-week death cross since 2022 signals risk of a drop toward $1,835 but strong volume and inflows hint at potential rebound.
- Network activity hits 1.45M daily transactions, reflecting robust demand that may support Ethereum’s recovery despite technical resistance.
Ethereum’s price chart has flashed a major bearish signal for the first time since 2022. The “death cross” on its two-week chart suggests heightened downside risk, drawing attention to a possible price floor near $1,835. Despite this, strong network activity and growing volume hint at possible recovery in the near term.
Ethereum’s 20-period exponential moving average (EMA) recently dropped below its 50-period EMA on the biweekly chart. This crossover mirrors a similar pattern from mid-2022 that preceded a 40% decline in Ether’s price. The setup includes a strong local peak followed by prolonged consolidation and lower highs, suggesting weakening bullish momentum.
Since June 2025, Ether has struggled to surpass these moving averages. Repeated failures to reclaim the 20- and 50-period EMAs have kept bears in control. The next major support zone centres around $1,835, a key Fibonacci retracement level from the 2021–2022 price cycle. If ETH breaks below this threshold, further declines could unfold.
On the other hand, a decisive retake of these EMAs as support would improve Ethereum’s prospects. Such a scenario could pave the way for a rally toward $3,500 to $4,000, aligning with longer-term Fibonacci targets. The challenge lies in overcoming resistance at these critical moving averages.
Strong Volume and Fund Inflows Add a Bullish Layer
Despite the bearish technical signal, volume metrics and fund inflows paint a more optimistic picture. Ethereum’s trading volume has surged since May, reaching its highest levels since the mid-2022 bear market recovery. The rise in volume underscores active participation from retail and institutional investors alike.
Ether funds have attracted net inflows totalling $2.43 billion in 2025, with assets under management at $14.29 billion. These inflows indicate sustained interest from large-scale investors, which may provide stability amid price volatility.
Ethereum’s current price, hovering around $2,466, reflects this dynamic tension between technical resistance and buying momentum. Market watchers will monitor whether growing volume can fuel a break above key EMAs or if bearish pressure will dominate.
Ethereum Spike in Network Activity
The network recorded its highest daily transaction count since January 2024, processing 1.45 million transactions. That figure aligns with a broader trend, Ethereum has reached a new all-time high of 20.2 million weekly active addresses.
This milestone points to significant engagement. More than 658,000 users are active across Ethereum’s base chain and layer-2 networks, such as Arbitrum and Optimism. Layer-2 activity alone surged 75% in the past week, driven by lower fees and faster throughput.
The network’s usage multiplier has hit 8.8x, suggesting that users are conducting more interactions per wallet. This uptick is not limited to registrations; it indicates strong participation across decentralized applications and staking platforms.
Analysts also link this trend to Ethereum’s Dencun upgrade in March 2025, which improved scalability and reduced transaction costs. Additionally, a recent security incident on the Solana network may have contributed to users shifting toward Ethereum, seeking stability and security.
Institutional activity has also increased. Ether funds recorded $2.43 billion in inflows this year, the strongest since 2021. These funds now manage over $14.29 billion in total assets. Combined with a 13.98% rise in trading volume, reaching $19.39 billion, the data suggests growing investor confidence despite bearish technicals.
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