Key Insights:
- Ethereum hit 393.6K new wallets in one day — the highest daily network growth ever.
- Price faces resistance at $3.3K and $3.55K, aligned with key Fibonacci technical zones.
- Fusaka upgrade, stablecoin use, and retail demand drive Ethereum’s recent user expansion.
Ethereum (ETH) was trading around $3,198, after gaining over 3% in the past 24 hours. The price is moving in an upward trend, holding above support levels marked by Fibonacci retracements. Short-term buyers are defending the $3,109 and $3,156 areas, which align with the 0.5 and 0.618 retracement levels.
The current movement puts ETH close to a strong resistance at $3,300. This level matches a previous high and also lines up with the Fibonacci 1.0 level ($3,309). Charts show selling pressure in this area, with past attempts to move higher being rejected. Traders are watching this zone to see whether price can break through or stall again.
$3,300 and $3,550 Mark Heavy Resistance
The $3,300 zone is seen as the first key wall. A clean break above it could open the way to the next major resistance near $3,550. That price area matches the Fibonacci 1.618 extension level ($3,555), which traders often use as a short-term price target.
There’s also a wide resistance zone on the chart between $3,500 and $3,600, showing likely sell pressure if ETH continues to rise. If volume drops or buying weakens, the price could pull back before testing those higher levels.
Wallet Growth Hits Record High
New data from Santiment shows that Ethereum just reached its highest-ever day for wallet creation. On January 11, over 393,600 new wallets were added to the network. The total number of non-empty ETH wallets now stands at 172.97 million, also a record. Over the past week, an average of 327,100 new wallets were created each day.
One reason behind this growth is the Fusaka upgrade, launched in early December. It made Ethereum cheaper to use by reducing Layer-2 transaction costs and improving how data is processed. Santiment explained, “A major protocol upgrade… made using Ethereum cheaper and easier.”
Real Network Use and Better Sentiment Drive Activity
Ethereum also saw record stablecoin activity in late 2025, with over $8 trillion moved in Q4 alone. This level of real usage can bring new users into the network, many of whom need wallets to hold or transfer tokens.
On-chain data shows that interest in Ethereum apps and services picked up in December and into the new year. New users joined, likely drawn by lower fees, better user experience, and stronger market sentiment. As the price tests key resistance levels, both traders and long-term users are keeping a close eye on what comes next.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
