Ethereum Developer Activity Surges with 8.7M Smart Contracts Deployed in a Quarter
- Record Smart Contracts: Ethereum deployed a record 8.7 million smart contracts in a single quarter, surpassing the previous high of 6 million in Q2 2021, indicating strong developer confidence despite lackluster price performance.
- Developer Activity Revival: Analysts noted that the steady growth in contract deployments reflects genuine market demand rather than short-term speculation, primarily driven by the rapid expansion of Layer 2 networks and real-world asset issuance, signaling a recovery in the Ethereum ecosystem.
- Increased On-Chain Usage: The Ethereum mainnet recently processed approximately 2.2 million transactions in a single day, setting a new record, while average transaction fees dropped to around $0.17, demonstrating improved network efficiency and rising user activity despite ETH prices remaining below yearly highs.
- Protocol Upgrades Boost: Upgrades in 2025, including Pectra and Fusaka, enhanced validator efficiency and increased gas limits, enabling Ethereum to handle higher activity levels at lower costs, further strengthening its competitive position in the blockchain space.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 728.967 | 1238.383 | 1695.807 | 2205.223 | 2662.647 | 3172.063 | 3629.487 |
| Fibonacci | 1238.383 | 1607.716 | 1835.89 | 2205.223 | 2574.556 | 2802.73 | 3172.063 |
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