Ethereum Stalls Near Resistance as Traders Eye Breakout Move

Ethereum's price remains steady near $1,874 as traders await a breakout move above resistance at $1,925. Wallet activity has surged to its highest level since March, with 989,500 active addresses in 24 hours according to Santiment data.

The surge in wallet activity can be attributed to several factors, including spot ETH ETF inflows, Robinhood Chain's Ethereum-settled activity, and the continued use of stablecoins and tokenized real-world assets on the network.

Despite this increased activity, the price remains range-bound between $1,850 and $1,925. A close above $1,925 would be a bullish signal, potentially leading to targets of $1,980 to $2,050, or even $2,100 in a stronger push.