Ethereum Holds Above $1,900 Realized Price Signaling Long-Term Bullish Confidence
Summary
Ethereum prices increased by 37.14% over the past week, reaching a local peak of $2,600, primarily due to the Petra network upgrade, which enhances ETH burn rate and market scarcity. The realized price, an indicator of market sentiment, is currently above $1,900, signaling a bullish market as long-term holders are now in profit. Recent ETH outflows from Binance indicate increased trader confidence and market activity. Binance remains the leading exchange for ETH trading, with significant liquidity supporting traders' positions. As of now, Ethereum trades at $2,525, with a daily gain of 5.88% and a trading volume of $33.79 billion. The next resistance level is at $2,600, with potential for an upswing to $2,800 if surpassed.
