Ethereum Holds Steady Around $4,300 Today as Active Addresses Surge

Jakarta, Pintu News – On September 9, the price of Ethereum (ETH) was trading at $4,356.94, up 1.53%. Although the week experienced a slight decline of 0.39%, market sentiment still looked positive. This was reflected in a nearly 70% jump in daily trading volume to $33.94 billion.

This increase in activity comes as developers are finalizing testnet plans for the Fusaka hard fork , which is scheduled for release in the fourth quarter of this year.

Then, how is Ethereum’s current price movement?

Ethereum Price Up 0.74% in 24 Hours

On September 10, 2025, Ethereum was trading at around $4,320, equivalent to IDR 71.29 million, marking a modest 0.74% gain over the past 24 hours. Within the same period, ETH dipped to a daily low of IDR 70.61 million and climbed as high as IDR 72.21 million.

At the time of writing, Ethereum’s market capitalization is valued at approximately IDR 8,565 trillion, while its 24-hour trading volume has declined by 9% to IDR 459.66 trillion.

Read also: Bitcoin Price Steady at $111K Today as Bulls Maintain Market Grip

Fusaka Hard Fork Strengthens Optimism

Quoting the Coinpedia report, the focus of the Fusaka hard fork update includes improving validator efficiency through PeerDAS as well as gas limit adjustments, which also strengthens optimism about Ethereum’s long-term prospects.

Of note, previous updates such as Dencun triggered sharp price rallies, with ETH surging 32% following the upgrade. Additionally, open interest in futures contracts this week increased by 27%, signaling that both retail and institutional investors are bracing for further upside potential.

Ethereum Active Addresses Continue to Rise?

Ethereum network activity has further strengthened the bullish sentiment. The number of daily active addresses has now climbed back to 645K, recovering from a low point in early August and much higher than the 439K level in July.

This consistent rise reflects growing user demand, while also reinforcing the narrative that the ETH rally is not purely speculative.

On the other hand, institutional wallets recorded continued accumulation, while whale inflows to the bourse were still limited, thus easing short-term selling pressure. Combined with a 27% increase in open interest (OI) on futures contracts, this condition shows that traders are increasingly opening long positions with the support of organic network activity as a price foundation.

With the final audit of the Fusaka code scheduled for the end of September, this positive momentum could potentially get stronger as investors anticipate the major upgrade.

Read also: Grayscale Files Chainlink ETF with SEC, LINK Price Could Rocket to $44?

ETH Price Analysis

From a technical perspective, Ethereum is currently moving between crucial resistance and strong support that has already been tested. On the 4-hour chart (9/9/25), the Bollinger Bands appear to be narrowing, signaling a potential breakout phase.

ETH price faces the closest resistance at $4,577, a level that has repeatedly held back rallies in the past. If broken, ETH has a chance to continue rising towards the $4,774 area, approaching the all-time high of $4,953.73.

Instead, support at $4,155 is key. If this level fails to hold, ETH risks falling further towards $3,967. Currently, the RSI is at 54.3, indicating neutral conditions with a slight bullish tendency. However, the MACD indicator is still negative, so cautionary signals need to be heeded even though momentum is building.

Overall, ETH seems to be in a consolidation phase before the next big move. A decisive breakout above $4,577 would most likely confirm the continuation of the bullish trend, while losing support at $4,155 could shift sentiment back towards the bearish side.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Ethereum Price Near $4,356 as Bulls Eye Breakout Above $4,577. Accessed September 10, 2025