Ethereum Active Addresses Surge 10% Amid Price Rise

Ethereum’s active addresses increased by 10% in 48 hours, signalling renewed market interest as ETH broke through significant price resistance. Tracking developments such as moving averages and transaction fees, the outlook appears positive, aiming for a potential rally towards $2,000.

Ethereum is currently exhibiting strong activity both on-chain and in pricing, demonstrated by a significant 10% rise in active addresses over 48 hours. Spanning from April 20 to April 22, active Ethereum addresses surged from approximately 306,000 to over 336,000, as reported by CryptoQuant analyst Carmelo Alemán. This growing network participation coincides with ETH gaining bullish momentum after a prolonged period of price resistance.

ETH has successfully surpassed the critical resistance threshold of $1,650, which had constrained it since mid-April. Following a strong breakout marked by a green daily candle, the price advanced past $1,790, escaping a previous stagnation phase. This shift indicates that buyers may be regaining market control, as ETH now trades above both the 10-day and 20-day moving averages, signalling short-term strength.

The relative strength index, currently just over 50, suggests mild bullish momentum without entering overbought territory. Additionally, the moving average convergence/divergence has begun to reveal early signs of a trend shift towards positivity. However, caution is warranted as the stochastic RSI approaches its upper limits, indicating possible short-term buyer exhaustion if market participation does not increase.

Another crucial aspect to monitor is Ethereum’s transaction fees, which remain relatively low at around $0.31 on average, according to YCharts data. This suggests reduced on-chain demand despite the network’s affordability. Nonetheless, the increasing number of active addresses and ETH’s position above previous resistance levels provides a more optimistic short-term outlook. If current momentum persists, a key future goal will be whether ETH can rally towards the $2,000 mark.