Wednesday, February 5, 2025

Top 5 This Week

Related Posts

ETH Active Addresses Reach 5 Million in a Week

  • ETH price surged by 14.5% over the last week.
  • Ethereum’s active addresses have hit 5 million over the past week, reflecting increased active buyers.

Ethereum (ETH) has experienced a significant surge recently, with ETH active addresses hitting 5 million over the past week. Following a weekly low of $2,251 on September 16, ETH has been on an upward trajectory. As of now, ETH is trading at $2,641, marking a 14.50% increase over the past week. This rise has sparked discussions about whether this uptrend signifies a sustained recovery.

Shifting Market Sentiment

Ethereum’s recent uptrend follows a period of decline over the past month. However, the sentiment in the market has shifted dramatically. Analysts attribute this surge to an increase in active buyers. ChainStatsPro reports that liquidation hunts in the future markets for ETH continue, while spot-limit bids are being actively filled. Though the cumulative volume delta (CVD) remains flat, bids and asks are accumulating at the $2,400 and $2,790 levels.

Source: ChainStatsPro

The increase in market activity suggests that active buyers are acquiring ETH at current rates, indicating heightened demand. Traders are positioning themselves strategically, buying when ETH dips to $2,400 and selling if it hits $2,790. These order placements reflect a more robust market engagement.

ETH active addresses have hit $5 million over the past week

Source: IntoTheBlock

Technical Indicators of ETH Performance

The rise in active addresses hitting 5 million over the past week underscores increased network transactions. According to IntoTheBlock, this trend indicates more users are engaging with Ethereum, contributing to a bullish market sentiment. Historically, a rise in active addresses often precedes higher ETH prices.

Moreover, ChainStatsPro’s analysis shows a marked increase in transaction activity, providing ETH with sustained upward momentum. Ethereum’s market dynamics further confirm this trend.

ETH active addresses have hit $5 million over the past week

Source: Tradingview

A positive Chaikin Money Flow (CMF), currently at 0.28, indicates strong accumulation by buyers. This trend is further supported by Ethereum’s positive open interest (OI)-weighted funding rate over the last week, showcasing a demand for long positions.

ETH active addresses have hit $5 million over the past week

Source: Coinglass

The current market sentiment positions Ethereum for further gains. If these conditions persist, ETH could test the $2,800 resistance level in the short term.


Read Ethereum’s [ETH] Price Prediction 2024–2025


Overall, Ethereum’s surge is supported by an increase in active buyers, which positively impacts market sentiment. If the current trend continues, ETH is well-positioned for further gains, potentially reaching $2,800.

Click Here For More Trading tips and strategies

Next: Ethereum: Liquidation levels indicate a move toward $2.8k resistance

Discover more from Make Money Online and Work From Anywhere

Subscribe to get the latest posts sent to your email.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Articles

Discover more from Make Money Online and Work From Anywhere

Subscribe now to keep reading and get access to the full archive.

Continue reading