Ethereum network activity has jumped while ETH trades near $1,880, with fresh addresses rising sharply and a whale moving coins. Ali Charts reported that daily new ETH addresses climbed from 121,210 on August 8 to 212,560 today, while Onchain Lens tracked 884.55 ETH moved to two fresh wallets over the last day. Against this backdrop, ETH continues to hold above its $1,860 support level, and the $1,920-$1,960 zone remains the key resistance area for any potential recovery.

Ethereum Addresses Rise Sharply

According to Ali Charts, Ethereum recorded 212,560 new daily addresses today. That figure compares with 121,210 addresses on August 8, an increase of 91,350 addresses between August 8 and August 16. Ali Charts described network growth as a strong on-chain measure of user adoption.

The analyst also noted that sustained increases in network growth have historically come before major price rallies. Address counts measure wallet creation rather than verified unique users, since a single person can control multiple wallets and automated activity can also generate addresses, which is why on-chain analysts tend to weigh the durability of a trend more heavily than any single day's print. Whether the elevated pace of creation persists in the coming days will show whether the August 16 figure points to sustained adoption or a one-day burst. The current rise in activity, however, comes as ETH remains below its recent highs. On the four-hour chart, ETH is changing hands at $1,879.47, with the latest candle up 0.01%.

Whale Moves 884.55 ETH to Fresh Wallets

Onchain Lens reported that a mysterious whale moved 884.55 ETH to two fresh wallets over the last day. The transfer was worth about $1.66 million. Wallets with no prior transaction history are routinely flagged by on-chain tracking services because their ownership is unknown, and an amount of this size is a small fraction of the ETH that moves across the network on a typical day. Before those transfers, the whale swapped 493.02 ETH for 928.57K USDT, the dollar-pegged stablecoin issued by Tether, through CoW Protocol, a decentralized exchange that settles trades in batches on Ethereum, with the swap involving about $927,000 in ETH.

The provided data does not identify the whale or explain its reason for moving the funds. Meanwhile, ETH has remained within a narrow range after its recent retreat.

ETH Holds Above $1,860 Support

ETH moved from roughly $1,760-$1,800 toward a peak near $1,960, later retreating and settling into a range around $1,870-$1,900. The four-hour structure shows weaker momentum after ETH reached about $1,920-$1,930 between August 7 and 10. Price then fell toward $1,860-$1,870 before stabilizing in smaller candles.

The relative strength index, a momentum oscillator that ranges from 0 to 100, currently reads 46.49, below its 47.09 moving average and the neutral 50 level, while remaining above 40. The MACD (moving average convergence divergence) line sits above its signal line but below zero.

Support is situated around $1,860-$1,840, followed by $1,800. Resistance appears near $1,900, then the $1,920-$1,960 zone. A break above $1,920 could target $1,960, while a move below $1,840 could expose $1,800.