Ethereum is showing a potential bull flag on its daily chart, suggesting a possible breakout to $4,000. Following a market recovery, Ether's price surged nearly 56% to $2,734 on May 23, 2025, from a low of $1,750 earlier this month. This increase is supported by a 37% rise in Ethereum's daily transaction count within 30 days, reaching levels last seen in January 2024. Concurrently, daily average transaction fees hit a 90-day high of 0.0005 ETH ($1.33). Rising transaction fees and activity indicate heightened user engagement with the network, typically associated with increased market confidence. Additionally, the total value locked (TVL) on Ethereum rose more than 44% within a month, surpassing $65.3 billion. Analysts suggest that if ETH maintains above the $2,400 support level, it could potentially reach $3,500 or higher. Historically, Ether's price has tended to rise during periods of high activity, making the current conditions favorable for an upward price trajectory.

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