Technical analysis by cryptoonchain about Symbol ETH: Buy recommendation (8/12/2025)

Ethereum’s network activity has surged to unprecedented levels, with daily transactions reaching an all-time high of approximately 1.875 million. This parabolic rise in on-chain activity reflects heightened user engagement and growing demand for block space. On the price chart, ETH is now testing the critical resistance zone just below its historical all-time high (~$4,750). This is a confluence point — price is approaching a major supply area, while network fundamentals show peak activity. Key points to watch: A breakout above $4,750 with sustained transaction momentum could ignite a price discovery phase. If sellers defend the ATH zone, short-term consolidation or a pullback toward $3,950 support is likely. On-chain highs combined with price stagnation could indicate network overextension, warranting caution. In summary, Ethereum is sitting at a junction where record network usage meets historical price resistance — the next few sessions could determine whether we see a decisive breakout or a rejection.