Ethereum Addresses In Profit Nearly Doubles Since April Lows – Volatility Returns
Ethereum remains above $2,500 after significant buying pressure, despite a 60% decline since December 2024. Bitcoin's new all-time high has generated optimism for an altcoin rally. For Ethereum to lead this rally, it must surpass current resistance levels and establish a recovery structure. The share of profitable addresses dropped from over 90% to 32% during the sell-off but has since rebounded, with nearly 60% back in profit. Ethereum bulls are regaining control, with a recent attempt to reclaim the $2,700 level following a breakout above $2,200. Analysts anticipate a potential breakout if $2,700 becomes support, indicating a key moment for Ethereum to reassert its leadership in the altcoin market. Volatility levels are reminiscent of the 2017 bull cycle, suggesting that continued upward momentum could trigger the next major phase of altseason.
