Fundamental view
Ethereum is the base layer for smart contracts, DeFi, NFTs, and many L2 networks. Demand for blockspace drives fees, and part of those fees can be burned, which may offset issuance. Growth signals analysts watch:
active addresses & new users
total value locked (TVL) in DeFi
stablecoin and L2 activity
staking participation and validator health
developer activity / upgrades
If usage rises faster than supply growth, that’s typically seen as supportive..
technical analysis (TA)
Common tools traders apply:
trend structure (higher highs/lows)
moving averages (e.g., 50 /