<ul><li>Trader Carl Moon warns that Ethereum could drop to $2,200 if it fails to break a crucial resistance at $2,700, representing a 14% correction.</li><li>Ethereum's on-chain metrics show record engagement with over 17.4 million unique active addresses in a week, signaling significant growth in real-world usage.</li><li>Despite potential short-term price weakness, the Ethereum ecosystem is heating up, indicating longer-term strength as network activity expands across Layer 2 chains.</li><li>Market is at a crossroads as technical charts suggest a possible correction while strong ecosystem growth may balance it out, with attention on $2,700 resistance and $2,200 support levels.</li></ul>

Ethereum Faces $2,200 Risk Despite Parabolic On-Chain Activity

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