Ah, Ethereum. The stubborn beast that refuses to be tamed by resistance. For weeks, it huddled below the $1,650 mark like a shy introvert at a party. But—hold the phone—something has changed. The network is buzzing with activity, and the price is finally climbing past the elusive resistance that had been mocking it for so long.
A little spark of life, perhaps? Oh, how the market loves a good drama.
Between April 20 and April 22, Ethereum’s active addresses didn’t just increase; they *surged*. A whopping 10%, moving from about 306,000 to over 336,000. CryptoQuant analyst Carmelo Alemán must’ve been watching with bated breath as this upward movement unfolded—because this kind of action is hard to ignore when you’re tracking on-chain data.
It’s almost like the entire Ethereum network decided to wake up from its long nap and go for a jog. Sure, active addresses don’t guarantee a straight path to the moon, but when combined with a price uptick, they signal one thing: people are paying attention. And in crypto, that’s half the battle.
Ethereum is Heating Up!
“Ethereum’s active addresses jumped from 306,211 to 336,366, representing a 9.85% increase in just 48 hours” – By @oro_crypto
Read the full analysis ⤵️
— CryptoQuant.com (@cryptoquant_com) April 23, 2025
Then, as if to mock the skeptics, ETH broke past that stubborn $1,650 ceiling—just like that. As though it had been waiting for the right moment, ETH surged above $1,790. It’s like watching a tortoise finally break out of its shell after years of hesitation. No more being stuck in the same old price range!
Buyers, apparently, have woken from their slumber. ETH is now comfortably above both the 10-day and 20-day moving averages, which hints at a shift in momentum. Not to get ahead of ourselves, but the Relative Strength Index is sitting right above 50, which says, “Hey, I’m feeling mildly bullish, but don’t worry—I’m not too eager.” A subtle flex, if you will.
And, as the market likes to throw curveballs, the Moving Average Convergence Divergence (MACD) is showing some slight positive signs, hinting at a potential trend shift. But don’t pack up and call it a bull run just yet—because the stochastic RSI is already nearing its peak, so it could be one wrong step from exhaustion. Classic crypto, right? Always keeping us on edge.
But wait, there’s more! Ethereum’s transaction fees are as low as a rabbit in a hole—around $0.31, to be precise. It’s like getting an all-you-can-eat buffet for the price of a coffee. Sounds great, right? Yet, the question lingers: why are the fees so low? Could it be a sign of low demand, or are the whales just too busy swimming elsewhere?
Despite this uncertainty, the outlook looks better than it has in weeks. If this momentum continues, ETH could very well eye a new battle at $2,000. But remember, in crypto, we live for the unexpected. Hold on to your hats, folks. We’re in for a wild ride.
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2025-04-24 08:43