Ethereum (ETH) Price Prediction: Active Addresses Jump Above 800K—Is ETH Preparing to Break the $3,600 Ceiling?

Over the past two weeks, Ethereum has experienced a notable increase in on-chain engagement, driven by recurring wallets interacting with DeFi protocols and NFT platforms. This trend reflects more than mere speculative interest, suggesting growing real-world usage and a strengthening network ecosystem.

Analysts note that understanding the quality of this activity is key to assessing potential price implications for ETH in 2026.

Ethereum Network Activity Doubles, But Context Matters

Blockchain analytics from Glassnode indicate that Ethereum’s daily active addresses grew from roughly 400,000 to over 800,000 between January 7 and 15, 2026. Verification from YCharts shows that Ethereum reached 1.297 million active addresses on January 16, more than double the 410,000 recorded during the same period last year.

Ethereum’s daily active addresses more than doubled to over 800,000 in two weeks, reaching 1.297 million by January 16, 2026, reflecting stronger adoption driven by DeFi and NFT activity. Source: Ali Martinez via X

A deeper look at the data reveals that this surge is not solely due to new wallet creation. Activity is increasingly concentrated in recurring wallets interacting with DeFi protocols and NFT marketplaces, rather than one-off transfers. Analysts note that this differs from previous spikes, such as the NFT-driven cycles in 2021, where address growth did not always translate into sustained price appreciation.

Ethereum’s rising active addresses indicate meaningful engagement, but the quality of activity is crucial, with recurring use in DeFi suggesting more durable network demand compared to casual transfers.

Ethereum Price Overview

Despite the network growth, Ethereum’s price remains relatively stable around $3,300. As of January 18, 2026, ETH trades above the key $3,230 support level, reflecting resilience amid short-term fluctuations.

Technical analysis shows consolidation in the $3,400–$3,600 range, with higher lows defending against sellers. A recent temporary dip to $3,260, referred to as a liquidity grab by traders, did not significantly alter the broader trend.

Ethereum briefly dipped to $3,260 in a fakeout but remains above key support at $3,230, suggesting cautious bullish potential, while further retests could signal weakness. Source: Tryrex via X

“ETH continues to consolidate within a descending trendline with rising support. This pattern suggests measured pressure, not immediate breakdown,” noted trader @Tryrexcrypto.

It is important to recognize that these technical patterns indicate potential price behavior under specific conditions rather than guaranteed outcomes.

Ethereum Price Prediction and Rally Scenarios

Some market projections suggest that Ethereum could reach $10,000 under favorable conditions. These scenarios, often based on Elliott Wave patterns, assume sustained adoption, macroeconomic stability, and Ethereum’s continued dominance over competing Layer-1 blockchains. Current forecasts for 2026 vary, ranging from $3,980 (Binance) to over $6,100 (Finder panel), reflecting a spectrum of analyst expectations.

Ethereum trades around $3,300, with forecasts for 2026 ranging from $3,980 to $6,100, and a potential $10,000 target based on Elliott Wave analysis and upcoming network upgrades. Source: Crypto GEMs via X

Ethereum’s upcoming Glamsterdam network upgrade, expected in H1 2026, aims to improve transaction throughput and efficiency. While the roadmap targets a jump from 30 TPS to potentially 300 TPS, these outcomes are contingent on client adoption, Layer-2 integrations, and network usage patterns. Analysts caution that near-term TPS gains remain speculative and should not be interpreted as guaranteed acceleration.

“Technical upgrades like Glamsterdam could support growth, but actual throughput depends on adoption and broader network conditions,” noted an Ethereum Foundation research brief.

Technical Outlook and Key Levels

For traders and investors, Ethereum technical analysis identifies several key zones:

• Support Zone: $3,218–$3,254 (pullbacks in this range may offer lower-risk entries for cautious traders)

• Stop-Loss: $3,067 (structural weakness confirmed below this level)

• Target Prices: $3,447 (TP1) and $3,650 (TP2)

Ethereum (ETH/USDT) holds key support within a descending trendline, with pullback entries at $3,218–$3,254, a stop-loss at $3,067, and targets at $3,447 and $3,650. Source: persis10t on TradingView

Risk management should consider that Ethereum’s broader trend may be influenced by macro factors, competing Layer-1 adoption, and changes in speculative trading activity. Short-term traders may focus on daily price swings, while long-term investors might weigh network adoption metrics and fundamental upgrades.

Looking Ahead: Balanced Perspective

Ethereum’s growth in active addresses and expanding adoption metrics suggests cautiously bullish potential, yet the market remains volatile. The $10,000 price scenario represents a high-end outcome, contingent on sustained network usage, favorable macro conditions, and Ethereum maintaining competitive positioning. Conversely, failure to hold the $3,200–$3,100 region could undermine this thesis.

Ethereum was trading at around 3,314.34, up 0.79% in the last 24 hours at press time. Source: Ethereum price via Brave New Coin

The rise in Ethereum network activity is encouraging, but long-term price performance depends on consistent usage rather than short-term speculative spikes.

In summary, Ethereum’s adoption metrics offer meaningful insights for both traders and investors, but price forecasts should be treated as conditional scenarios. Proper attention to technical levels, network fundamentals, and upgrade developments can help market participants make more informed decisions.