As 2025 draws to a close, this widening gap between network fundamentals and market valuation is shaping the latest Ethereum price prediction outlook. Rather than signaling immediate upside, the divergence suggests a market absorbing growth while waiting for clearer technical confirmation.
At present, the ETH price reflects caution rather than exuberance. Instead of reacting instantly to usage data, the market appears to be absorbing information gradually, a pattern that has emerged during previous consolidation phases in Ethereum’s history.
Ethereum Network Activity Reaches a New Milestone
On December 29, 2025, Ethereum recorded more than 2.2 million daily on-chain transactions, the highest level ever observed on the network. Data aggregated from platforms such as Dune and Etherscan shows that the increase was largely driven by stablecoin settlements, DeFi interactions, and Layer-2 rollups posting batched transactions back to the main chain.
Ethereum has set a new record with over 2.2 million daily on-chain transactions, marking its highest-ever level of network usage. Source: @kay_drake_ via X
Unlike previous transaction spikes during speculative peaks, this expansion occurred while ETH gas fees stayed near historic lows, averaging around $0.17. That detail is critical. High usage combined with low fees suggests infrastructure efficiency and sustained demand, rather than congestion-driven speculation.
On-chain researcher Kay Drake highlighted this distinction, noting that the milestone represents “the highest level of real network usage Ethereum has ever recorded,” while also stressing that the price of Ethereum remains well below prior cycle highs.
Ethereum Price Today Lags Behind Network Growth
Despite these strong fundamentals, Ethereum price today continues to reflect hesitation. ETH has traded near the $2,900–$3,000 range for several weeks, leaving the current ETH price far below the Ethereum all-time high price of roughly $4,800 reached in 2021.
Ethereum (ETH) was trading at around $2,982, up 0.18% in the last 24 hours at press time. Source: Ethereum price via Brave New Coin
Historically, Ethereum has experienced similar gaps between usage and price during post-upgrade or post-distribution phases rather than late-cycle euphoria. In mid-2020 and again in early 2023, transaction activity expanded ahead of price, with valuation only responding after sustained acceptance above key psychological levels.
This context matters. The present divergence does not guarantee a near-term breakout, but it does suggest that network growth is occurring independently of speculative momentum—an important distinction for interpreting Ethereum price news.
Ethereum Technical Analysis Shows Compression Below $3,000
From a structural perspective, Ethereum technical analysis continues to point toward balance rather than trend. On the daily timeframe, ETH has repeatedly failed to hold above the $3,000–$3,050 zone, while buyers have consistently defended demand near $2,880–$2,910.
ETH remains range-bound below $3,000, though a breakout above this level could trigger a 15%-20% rally in the coming weeks. Source: @TedPillows via X
This has resulted in overlapping candles and compressed swings, a pattern that typically emerges when neither buyers nor sellers have decisive control. Importantly, there has been no expansion to higher highs or lower lows, reinforcing the view that price is coiling rather than breaking.
Macro trader Ted Pillows summarized market sentiment bluntly, stating that “$ETH is still doing absolutely nothing,” while adding that a confirmed move above $3,000 could historically lead to a 15%–20% rally. Similar consolidations in prior cycles only resolved after multi-week acceptance above resistance, rather than brief intraday spikes.
Key Support Levels and ETF Flows Offer Stability
On higher timeframes, the $2,600 area remains a critical structural level. Weekly closes above this zone have preserved the broader bullish framework, even as short-term momentum has faded. ETH ended December 31 near $2,967 after briefly trading above $3,000, underscoring the market’s sensitivity around that level.
Ethereum is finding strong support between $2,880–$2,910, while immediate resistance sits at $2,980–$3,000, with a larger supply zone near $3,050–$3,070. Source: Mathew_TraderGold on TradingView
Institutional participation has also played a stabilizing role. Ethereum ETF products recorded roughly $50 million in net inflows during late December. While these flows are meaningful, they should be viewed as supportive rather than decisive. ETF demand has helped absorb supply during pullbacks, but it has not yet demonstrated sufficient scale to independently drive a directional move in the ETH crypto price.
This distinction is important for maintaining analytical clarity. Correlation between inflows and price stability does not imply causation for a breakout.
Ethereum Price Prediction Hinges on Acceptance, Not Spikes
Near-term Ethereum price prediction scenarios remain conditional. Analysts broadly agree that sustained acceptance above the $3,050–$3,070 supply zone would be required to shift market structure decisively higher. Without that confirmation, Ethereum is likely to continue rotating within its established range.
For Ethereum price, key levels to watch are $2,963, $3,075, and $3,178, with a potential move toward $4,156 if these thresholds are decisively breached. Source: Ntm185 on TradingView
Conversely, a breakdown below the $2,880 support zone would weaken the accumulation narrative and reopen downside risk. Until one of these outcomes materializes, Ethereum price analysis favors patience over prediction.
Outlook: Usage Leads While Price Waits
Ethereum’s latest on-chain record reinforces the view that the network continues to deepen its real-world utility, even as the ETH price remains restrained. For short-term traders, this environment tends to favor range-based strategies and clearly defined risk levels. For longer-term participants, sustained network growth may serve more as a confirmation signal than an immediate entry trigger.
Until Ethereum demonstrates clear acceptance above resistance or a decisive break below support, the market remains in a state of balance. In that context, the current Ethereum forecast is less about timing a breakout and more about recognizing that fundamentals are evolving ahead of price, not yet through it.