Ethereum closed 2025 with a surge in on-chain activity, while short-term chart structures outlined a clear technical checkpoint. A Token Terminal chart shared on X by the BMNR Bullz account showed Ethereum contract deployments reaching 8.7 million in Q4 2025, the highest on the chart’s timeline. BMNR Bullz described the record as an all-time high in developer activity, linking higher contract counts to expanding on-chain building. Ethereum tests first wave target near $3,143, analyst says.
Ethereum moved higher into late December trading as a short term structure outlined by More Crypto Online pointed to $3,143 as the first ideal target for wave (c) of a broader circle wave B. The view was shared alongside a 30 minute ETHUSD index chart that mapped Elliott Wave counts and Fibonacci retracement and extension levels. The chart showed Ethereum breaking above a descending trendline after holding a lower support band marked between roughly $2,827 and $2,895. That zone aligned with the 61.8% to 78.6% Fibonacci retracement area, which the analyst treated as the base for the current rebound.
From there, price pushed through intermediate resistance and moved back above the $3,000 handle. According to the projection, the $3,143 area lines up with the 100% Fibonacci level for the current move, making it the first technical checkpoint for wave. Higher extension levels were also marked on the chart, but the post focused on $3,143 as the initial objective rather than a final destination. The structure remains framed as corrective within a larger pattern, with subsequent price behavior expected to determine whether the move extends or stalls.
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