：以太坊（ETH）价格恢复，但是网络活动较弱引起了人们的关注

：以太坊（ETH）是市场资本化的第二大加密货币，已经证明了短期恢复的迹象

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）是第二大加密货币，显示了3月31日短期恢复的迹象。在本月早些时候下降到关键的1,800美元支持水平之后，加密货币的重新恢复不足，到12:11 ET（16:11 GMT）达到了1,850.95 $ 1,850.95。这代表了短短四个小时的窗口中的2.06％增长，这表明在更广泛的市场不确定性中，潜在的恢复。

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，尽管有价格行动，但链上的数据表明，网络活动的趋势平淡，这表明以太坊的未来增长不仅取决于短期市场趋势，还取决于持续的现实世界采用和网络活动的增长。

Ethereum’s Price Movement and Market Indicators:

以太坊的价格运动和市场指标：

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的价格已上涨至1,840.47美元，反映出仅24小时内增长了1.56％。以太坊的市值增长了1.57％，达到2220.6亿美元，而其24小时交易量飙升了53％以上，达到156.3亿美元。

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.

当天早些时候，ETH的价格下跌低于1,790美元，但在整个交易日都恢复了，表明尽管市场发生了持续的波动，但仍有一些投资者的信心。

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.

以太坊的完全稀释的估值（FDV）与市值达到2220.7亿美元，这反映了对代币的重大兴趣。循环供应量为1.2065亿ETH，总供应量没有硬上限，这为持续通货膨胀留出了空间。

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.

以太坊的数量与市场上限比率为6.98％，突显了投资者的活动增加，这表明对以太坊的短期兴趣已经飙升，尽管在很大程度上是谨慎的市场环境中。

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

链上数据：尽管价格恢复，但网络活动较弱：

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

尽管以太坊的价格已经管理了适度的恢复，但Cryptoquant.com的链链指标揭示了有关趋势的趋势：网络参与度较弱。

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.

以太坊上的活动地址数量在2024年一直保持较低，平均每天约300,000个活动地址。这些数字表明，尽管价格波动最近，网络用户群缺乏持续的参与。

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.

在价格升值期间，缺乏用户参与度尤其值得注意。随着以太坊的价格上涨，高于1,800美元的水平，主动地址未能显示出相应的增长。当以太坊的价格上涨时，用户与网络的互动减少，表明交易者和用户变得越来越谨慎，可能是由于市场不确定性或对价格波动的担忧所致。

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.

缺乏一致的参与为以太坊的长期增长带来了重大风险。如果以太坊无法维持高水平的用户参与和网络上的持续活动，则其价格恢复可能是短暂的，未来的任何增长都可能受到限制。

Technical Indicators Suggest a Possible Recovery:

技术指标表明可能恢复：

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

尽管用户参与度较弱，但技术指标仍表明以太坊可能处于短期恢复的边缘。

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.

相对强度指数（RSI）是一个关键动量指标，在最近浸入至25.73之后的4小时时间内达到43.15，这表明看跌的动量可能正在减弱。尽管RSI保持低于50的中性水平，但向上运动表明，随着越来越多的投资者参与购买活动，以太坊可能正在为趋势逆转做准备。

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.

移动平均收敛差异（MACD）指标进一步支持了这一潜在恢复。 MACD最近越过其信号线，这是一个看涨的跨界，这表明趋势方向发生了变化。 MACD值现在为4.90，超过了-40.75信号线，并伴随着绿色直方图。该正信号强化了以太坊在不久的将来测试较高的电阻水平的观念。

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，尽管这些技术指标表明潜在的上升趋势，但加密货币尚未确认全面突破。如果以太坊设法维持当前的势头，则可以测试抵抗水平在1,900美元至2,000美元之间。但是，如果向上的压力失败，加密货币可能会再次面临下降，这将挑战其目前的恢复。

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

前进的道路：现实世界采用和费用增长的重要性：

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.

以太坊的长期成功不仅取决于短期价格变动或交易活动。根据以太坊投资者瑞安·贝克曼斯（Ryan Berckmans）的说法，以太坊持续增长的关键在于现实领养和收费驱动网络活动的增长。

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，以太坊的价格轨迹，特别是在长期价格目标（例如20,000美元）方面取决于网络