Ethereum has started to recover after three straight weekly declines, with ETH trading at $2,080, well above last week’s low of $1,738. The token remains far below its near-$5,000 all-time high, yet staking demand and network activity have kept rising even as price action stayed under pressure.
The sharpest data point is the staking queue. Figures cited in the report show that 4.06 million ETH are now waiting to enter staking, the highest level on record, while only 31,915 ETH are lined up to exit. That has pushed the estimated wait time to about 70 days. The imbalance suggests holders are still committing coins to staking rather than rushing to withdraw.
On-chain activity strengthens while staking demand builds
Network metrics also moved higher. According to Nansen data, Ethereum active addresses climbed 38% over the past 30 days to more than 15 million. Transactions rose 37% to above 70 million, and fees increased to nearly $20 million. The source ties that improvement to the network’s performance following the Fusaka upgrade.
Ethereum also continues to dominate one of crypto’s largest segments. In real-world asset tokenization, its market share stands above 70%. That leaves a notable split in the current setup: price has weakened over recent months, but staking interest, address activity, transaction count, and fee generation have all held up or expanded.
Weekly chart shows reversal signals taking shape
On the technical side, the weekly chart still reflects a steep decline over the past few months, and ETH has closed lower for three consecutive weeks. The Relative Strength Index has fallen to the oversold area near 30. At the same time, the chart has been forming an inverted head-and-shoulders pattern, a structure traders often watch for bullish reversals. The report says the right shoulder appears to be in place.
ETH has also printed a hammer candle on the weekly timeframe, marked by a long lower wick and a small real body. That pattern is also commonly read as a reversal signal. If the setup holds, the next level in focus is the psychological $2,500 area. A move below the hammer’s lower boundary would invalidate that bullish view.