Exploding Onchain Activity Fuels $4,500 ETH Price Target

[etfs]

Ethereum’s fundamentals are strengthening alongside institutional demand. Data from Nansen shows active addresses surged 53% over the past month to a 28-month high near one million, while daily transactions hit a record 2.9 million, according to DefiLlama. Notably, this surge is occurring while average gas fees remain near historic lows—evidence that recent scaling upgrades are working as intended.

From a technical perspective, traders say holding the $3,050–$3,170 support zone keeps ETH’s bullish structure intact. Several analysts point to a confirmed breakout from a symmetrical triangle, projecting a move toward $4,500 if momentum holds. With ETF inflows rising, network usage surging, and key support defended, many expect Ether’s next leg higher to be driven by fundamentals—not hype.

[cryptohog]

4.5k targets always sound crazy until price starts walking that way