Ethereum ‘Heating Up’ – Address Activity Jumps Nearly 10% In 2 Days
Ethereum's network activity and price have shown renewed momentum, breaking through a critical resistance level after a period of stagnation. Active addresses rose nearly 10%, from approximately 306,000 to over 336,000 between April 20 and April 22, indicating increased user engagement and potential market shifts. The price surpassed $1,780, overcoming the $1,640 barrier, with buyers gaining prominence. The price is above both the 10-day and 20-day moving averages, suggesting short-term strength. However, indicators show mixed signals, with the relative strength index indicating bullish momentum but nearing exhaustion. Forecasts predict a potential decline to $1,652 by May 24, 2025, amidst a "Greed" sentiment in the market. Despite low transaction fees averaging $0.31, which suggest weak on-chain demand, the rise in active addresses and price stability above resistance levels improve the short-term outlook. Continued momentum may lead Ethereum towards the $2,000 mark.
