：以太坊（ETH）價格恢復，但是網絡活動較弱引起了人們的關注

：以太坊（ETH）是市場資本化的第二大加密貨幣，已經證明了短期恢復的跡象

Ethereum (ETH), the second-largest cryptocurrency, showed signs of a short-term recovery on March 31. After dipping below the critical $1,800 support level earlier in the month, the cryptocurrency made a modest rebound, reaching $1,850.95 by 12:11 ET (16:11 GMT). This represented a 2.06% gain within a short four-hour window, signaling a potential recovery amid broader market uncertainties.

以太坊（ETH）是第二大加密貨幣，顯示了3月31日短期恢復的跡象。在本月早些時候下降到關鍵的1,800美元支持水平之後，加密貨幣的重新恢復不足，到12:11 ET（16:11 GMT）達到了1,850.95 $ 1,850.95。這代表了短短四個小時的窗口中的2.06％增長，這表明在更廣泛的市場不確定性中，潛在的恢復。

However, despite the price action, on-chain data pointed to a lackluster trend in network activity, suggesting that the future growth of Ethereum depends not just on short-term market trends but also on sustained real-world adoption and the growth of activity on the network.

然而，儘管有價格行動，但鏈上的數據表明，網絡活動的趨勢平淡，這表明以太坊的未來增長不僅取決於短期市場趨勢，還取決於持續的現實世界採用和網絡活動的增長。

Ethereum’s Price Movement and Market Indicators:

以太坊的價格運動和市場指標：

ETH’s price had climbed to $1,840.47 by the end of March 31, reflecting a 1.56% increase in just 24 hours. The market capitalization of Ethereum rose by 1.57% to $222.06 billion, while its 24-hour trading volume surged by more than 53%, reaching $15.63 billion.

到3月31日，ETH的價格已上漲至1,840.47美元，反映出僅24小時內增長了1.56％。以太坊的市值增長了1.57％，達到2220.6億美元，而其24小時交易量飆升了53％以上，達到156.3億美元。

Earlier in the day, ETH’s price dipped below $1,790, but it recovered throughout the trading day, indicating some investor confidence despite ongoing market fluctuations.

當天早些時候，ETH的價格下跌低於1,790美元，但在整個交易日都恢復了，表明儘管市場發生了持續的波動，但仍有一些投資者的信心。

Ethereum’s fully diluted valuation (FDV) stands closely aligned with its market cap at $222.07 billion, reflecting the significant interest in the token. With a circulating supply of 120.65 million ETH, there is no hard cap on the total supply, which leaves room for continued inflation.

以太坊的完全稀釋的估值（FDV）與市值達到2220.7億美元，這反映了對代幣的重大興趣。循環供應量為1.2065億ETH，總供應量沒有硬上限，這為持續通貨膨脹留出了空間。

Ethereum’s volume-to-market cap ratio, now at 6.98%, highlights increased investor activity, suggesting that short-term interest in Ethereum has spiked, albeit amidst a largely cautious market environment.

以太坊的數量與市場上限比率為6.98％，突顯了投資者的活動增加，這表明對以太坊的短期興趣已經飆升，儘管在很大程度上是謹慎的市場環境中。

On-Chain Data: Weak Network Activity Despite Price Recovery:

鏈上數據：儘管價格恢復，但網絡活動較弱：

While Ethereum’s price has managed a modest recovery, on-chain metrics from CryptoQuant.com reveal a concerning trend: weak network engagement.

儘管以太坊的價格已經管理了適度的恢復，但Cryptoquant.com的鍊鍊指標揭示了有關趨勢的趨勢：網絡參與度較弱。

The number of active addresses on Ethereum has consistently remained low in 2024, with an average of around 300,000 active addresses per day. These figures suggest a lack of sustained participation from the network’s user base, despite recent price fluctuations.

以太坊上的活動地址數量在2024年一直保持較低，平均每天約300,000個活動地址。這些數字表明，儘管價格波動最近，網絡用戶群缺乏持續的參與。

This lack of user engagement is particularly noteworthy during periods of price appreciation. As Ethereum’s price rose above the $1,800 level, active addresses failed to show corresponding growth. When Ethereum’s price increases, user interaction with the network decreases, indicating that traders and users are becoming more cautious, perhaps due to market uncertainties or concerns over price volatility.

在價格升值期間，缺乏用戶參與度尤其值得注意。隨著以太坊的價格上漲，高於1,800美元的水平，主動地址未能顯示出相應的增長。當以太坊的價格上漲時，用戶與網絡的互動減少，表明交易者和用戶變得越來越謹慎，可能是由於市場不確定性或對價格波動的擔憂所致。

A lack of consistent engagement poses a significant risk to the long-term growth of Ethereum. If Ethereum cannot maintain high levels of user participation and sustained activity on the network, its price recovery could be short-lived, and any future growth could be limited.

缺乏一致的參與為以太坊的長期增長帶來了重大風險。如果以太坊無法維持高水平的用戶參與和網絡上的持續活動，則其價格恢復可能是短暫的，未來的任何增長都可能受到限制。

Technical Indicators Suggest a Possible Recovery:

技術指標表明可能恢復：

Despite the weak user engagement, technical indicators are showing signs that Ethereum could be on the brink of a short-term recovery.

儘管用戶參與度較弱，但技術指標仍表明以太坊可能處於短期恢復的邊緣。

The Relative Strength Index (RSI), a key momentum indicator, reached 43.15 on the 4-hour timeframe after recently dipping to 25.73, signaling that bearish momentum may be weakening. Although the RSI remains below the neutral level of 50, the upward movement indicates that Ethereum might be preparing for a trend reversal as more investors become involved in buying activities.

相對強度指數（RSI）是一個關鍵動量指標，在最近浸入至25.73之後的4小時時間內達到43.15，這表明看跌的動量可能正在減弱。儘管RSI保持低於50的中性水平，但向上運動表明，隨著越來越多的投資者參與購買活動，以太坊可能正在為趨勢逆轉做準備。

The Moving Average Convergence Divergence (MACD) indicator further supports this potential recovery. The MACD has recently crossed above its signal line, a bullish crossover that suggests a shift in trend direction. The MACD value now stands at 4.90, exceeding the -40.75 signal line, accompanied by green histogram bars. This positive signal reinforces the idea that Ethereum may test higher resistance levels in the near future.

移動平均收斂差異（MACD）指標進一步支持了這一潛在恢復。 MACD最近越過其信號線，這是一個看漲的跨界，這表明趨勢方向發生了變化。 MACD值現在為4.90，超過了-40.75信號線，並伴隨著綠色直方圖。該正信號強化了以太坊在不久的將來測試較高的電阻水平的觀念。

However, while these technical indicators suggest a potential upward trend, the cryptocurrency has yet to confirm a full breakout. If Ethereum manages to sustain the current momentum, it could test resistance levels between $1,900 and $2,000. But if upward pressure falters, the cryptocurrency could once again face declines, which would challenge its current recovery.

但是，儘管這些技術指標表明潛在的上升趨勢，但加密貨幣尚未確認全面突破。如果以太坊設法維持當前的勢頭，則可以測試抵抗水平在1,900美元至2,000美元之間。但是，如果向上的壓力失敗，加密貨幣可能會再次面臨下降，這將挑戰其目前的恢復。

The Road Ahead: The Importance of Real-World Adoption and Fee Growth:

前進的道路：現實世界採用和費用增長的重要性：

Ethereum’s long-term success hinges on more than just short-term price movements or trading activity. According to Ethereum investor Ryan Berckmans, the key to Ethereum’s sustained growth lies in real-world adoption and the growth of fee-driven network activity.

以太坊的長期成功不僅取決於短期價格變動或交易活動。根據以太坊投資者瑞安·貝克曼斯（Ryan Berckmans）的說法，以太坊持續增長的關鍵在於現實領養和收費驅動網絡活動的增長。

Berckmans notes that Ethereum’s price trajectory, particularly in terms of long-term price targets like $20,000, depends on the network

Berckmans指出，以太坊的價格軌跡，特別是在長期價格目標（例如20,000美元）方面取決於網絡