Ethereum's on-chain activity has strengthened sharply even as ETH price remains in a narrow consolidation near $1,880. According to data shared by Ali Charts, daily new Ethereum addresses climbed from 121,210 on August 8 to 212,560 on August 16, an increase of roughly 75% or 91,350 addresses. The analyst described the network growth as a strong on-chain measure of user adoption and noted that sustained increases have historically preceded major price rallies.
At the same time, on-chain tracker Onchain Lens reported that an unidentified whale moved 884.55 ETH, worth approximately $1.66 million, to two fresh wallets over the previous day. Before those transfers, the whale swapped 493.02 ETH for roughly 928,570 USDT through CoW Protocol, a transaction worth about $927,000. The identity and motive of the whale remain unknown.
ETH is holding above support around $1,860–$1,840, with further support near $1,800. Resistance remains in the $1,920–$1,960 zone. The four-hour chart shows ETH at $1,879.47, with the RSI at 46.49 and the MACD line above its signal line but still below zero, indicating weak near-term momentum. A breakout above $1,920 could open a move toward $1,960, while a drop below $1,840 could expose $1,800.
