An optimistic outlook for Ethereum prices is emerging as the network continues to demonstrate strong activity. Cointelegraph reports that Ethereum’s price has seen a surge towards its all-time high of $4,000, fueled by both technical chart patterns and real-world growth. A ‘bull flag’ pattern on the daily chart suggests a potential upward trajectory, with analysts citing increased DeFi adoption and institutional interest as key drivers. The surge in Ethereum’s network activity is also reflected in rising transaction counts and a significant increase in TVL (Total Value Locked), indicating growing user engagement across decentralized applications like DeFi, NFTs, and DApps. This robust activity comes alongside a rise in Ether (ETH) price, which has surged by nearly 56% to reach an eight-week high of $2,734, exceeding the lows of $1,750 on May 6. The increase in daily transaction counts over the past month also reached levels last observed in early 2024, while average transaction fees have hit a 90-day high.