Check out the latest information in Spanish.
Ethereum is nearing all-time highs and is about to break through the important $4,000 level. The market has expressed skepticism about Ethereum's performance during this cycle, with some analysts predicting that Ethereum may underperform compared to previous bullish phases. Despite this doubt, Ethereum has proven its resilience, consistently finding demand at key support levels and maintaining a bullish price structure.
Related books
This week's on-chain data from IntoTheBlock highlights the solid foundation of Ethereum's network activity, further fueling optimism. Indicators such as active addresses, transaction volume, and netflow suggest a healthy ecosystem, reinforcing the likelihood that ETH will continue its upward trajectory. These indicators reveal increased investor participation and confidence amid widespread market uncertainty.
With Ethereum approaching a significant resistance level, all eyes will be on whether it can maintain its momentum and break above $4,000. If successful, this breakout could reignite bullish sentiment and pave the way for ETH to re-attempt all-time highs, silencing skeptics in the process. However, failure to clear this hurdle could lead to further consolidation, leaving traders speculating on Ethereum's next big move in suspense.
Ethereum data signal strength
Ethereum has been steadily rising in recent weeks, fueled by a strong bullish trend that started earlier this month. This price momentum has attracted the attention of top analysts and investors, who are keeping an eye on whether ETH will break out of its year-to-date high as it approaches its all-time high (ATH). Market expectations are clear, with many seeing this as a pivotal moment for Ethereum to solidify its position in this bullish cycle.
Top analyst Ali Martinez recently shared on-chain metrics from IntoTheBlock, revealing a solid outlook for the Ethereum network this week. Active addresses increased by 4.24%, indicating increased user participation and interest. Similarly, new addresses increased by 2.65%, suggesting an increase in hiring and investor activity. In particular, zero balance addresses have decreased by 4.06%, indicating that dormant wallets are being revived and ETH is being reactivated for trading and investment.
Ethereum on-chain indicators look solid this week | Source: Ali Martinez of X
These positive indicators highlight Ethereum's growing momentum and strengthen the idea that Ethereum is poised for significant price swings. If ETH succeeds in breaking out of its yearly high, it could trigger a strong rally and set a new record. However, if the upward momentum cannot be sustained, Ethereum could retreat further to consolidate before attempting another breakout.
Related books
With fundamentals strengthening and the market gearing up for a breakout, Ethereum appears poised to make its next big move. The next few weeks are likely to be critical in determining Ethereum’s trajectory for the rest of the bullish cycle, whether it seeks new all-time highs or finds support to push further upwards. As sentiment increases, all eyes will be on whether Ethereum can capitalize on the increased momentum.
ETH test supply
Ethereum (ETH) is currently trading at $3,920, showing resilience after several failed attempts to break above the key resistance level of $4,000. This price range remains a psychological and technical barrier for ETH, and clearing it is essential to confirm the continuation of the bullish uptrend.
ETH Testing Critical Supply | Source: ETHUSDT Chart on TradingView
Market attention is focused on Ethereum’s ability to regain the $4,000 level, which will likely trigger a strong rally towards year-to-date highs. However, without being able to decisively break this resistance, ETH remains in a solid phase, leaving uncertainty about its next move.
If Ethereum fails to maintain its current momentum and breaks above $4,000 in the coming sessions, the price could face further selling pressure. In such a scenario, a retrace towards lower demand levels around $3,500 is likely. This level previously served as a solid support zone, and a retest could serve as the basis for further upside attempts.
Related books
Ethereum remains in an important position as the market waits for a decisive move. A break above $4,000 would reinvigorate bullish sentiment, but failure could signal further consolidation or correction before the next significant price move unfolds.
Featured images from DALL-E, charts from TradingView
