Key Insights
- Ethereum price faces its first major resistance between $1,980 and $2,080.
- Ethereum new-address data cited by Ali Martinez showed a 75% eight-day increase.
- The MVRV golden cross strengthened the recovery case, with $2,773 the next major target.
Ethereum price traded near $1,880 as network activity and onchain indicators showed improving momentum.
Crypto analyst Ali Martinez said new Ethereum addresses rose from 121,210 on Aug. 8 to 212,560 eight days later. That represented an increase of about 75%.
ETH also remained above an MVRV pricing band near $1,800. Meanwhile, its Market Value to Realized Value momentum indicator recently confirmed a golden cross.
The signals strengthened the recovery case but did not confirm a sustained rally. Ethereum price must first clear resistance between $1,980 and $2,080 before $2,773 becomes relevant.
Ethereum Price Prediction: Resistance Builds
Ethereum price trades near a short-term resistance cluster after recovering from the $1,500 area. Analyst Ted Pillows places immediate resistance near $1,965, followed by $2,030. ETH crypto would need to clear both levels before buyers can challenge the next barrier near $2,199.
According to Ethereum price predictions, there is a larger supply zone around $2,400. A break above that area would strengthen the path toward higher targets. On the downside, the chart shows demand around $1,840 to $1,880.
Losing that zone could expose support near $1,690 and the broader $1,540 to $1,570 area. The chart also marks another lower demand zone near $1,424. That sequence leaves ETH crypto with several technical barriers before the market can test the $3,000 level.
New Ethereum Addresses Rise to 212,560
Ethereum network growth accelerated sharply over the past eight days. Crypto analyst Ali Martinez data show new daily addresses rising from 121,210 to 212,560. The increase adds more than 91,000 new addresses to the daily count in just over one week.
Network growth tracks the number of fresh addresses interacting with Ethereum. Rising address creation can point to broader participation, although it does not confirm immediate buying pressure by itself. Martinez noted that sustained network growth has often appeared before stronger ETH price periods in earlier market cycles.
The latest move therefore adds an on-chain factor to the current Ethereum price setup. ETH crypto still needs to clear nearby resistance before the market can confirm a stronger trend. For now, the address data shows expanding network participation while ETH crypto attempts to recover from recent weakness.
MVRV Golden Cross Adds to Bullish Setup
Ethereum has also moved above the 0.8 MVRV Pricing Band around $1,800. Martinez identified that level as an important bullish trigger. MVRV pricing chart places the 0.8 band near $1,796, while higher valuation bands sit much further above the market. The chart also places Ethereum’s realized price near $2,245.
The MVRV Momentum indicator has also formed a golden cross. Martinez said the previous four signals came before ETH crypto rallies of 50%, 166%, 74%, and 113%. Another MVRV chart shows the ratio recovering near the one-point threshold after spending time below it.
Will ETH Crypto Hit $3,000?
Ethereum price still faces several supply zones before $3,000 becomes a realistic technical target. Glassnode URPD data shows notable concentrations around $1,980, $2,524, and $2,773. The largest visible concentration sits near $2,773, making that level a major hurdle. The URPD chart also shows another holder cluster near $1,733.
Martinez places the first key resistance range between $1,980 and $2,080. If buyers clear that zone, ETH could move toward $2,773. A break above $2,773 would leave Ethereum price roughly 8% below the $3,000 mark.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
