Ethereum's price has surged by 5% reaching above the $3,200 resistance level. This uptick has coincided with a notable increase in Ethereum's network activity, as active addresses have grown by 37% to reach 670,000 in recent months. Analysts are optimistic, suggesting a potential target of $4,000 based on a bullish pennant pattern.
Looking ahead, long-term forecasts propose a possible price range of $9,000 to $10,000 over the next three to four months. Ethereum's key support range has been identified between $2,230 and $2,610, where 11.99 million wallets collectively hold 62.27 million ETH.