Ethereum

bullish

Movement

DeFi

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ethereum’s active addresses have risen by 36%, indicating strong network activity and organic demand.</li>
 <li>Breaking the $4,100 resistance could send Ethereum towards its all-time high of $4,891.</li>
</ul>
<p>Ethereum [ETH] saw a significant boost earlier this month, breaching the $4,000 level before entering a phase of consolidation. Despite the recent cooling off in price action, analysts remain hopeful, citing strong signs that Ethereum’s bullish momentum is far from finished.</p>
<h2 id="ethereum-s-price-movement-after-us-elections">Ethereum’s Price Movement After US Elections</h2>
<p>Post the US elections on November 5th, ETH has recorded an impressive 70% price increase. This increase is attributed to organic demand, as evidenced by a substantial increase in active addresses.</p>
<p>The surge, which is driven by actual network activity, implies that Ethereum’s rally could be sustainable, with potential for continued growth in the future.</p>
<p>The asset’s price trajectory following the US elections has been explosive, with a 70% rally since November 5th. The market sentiment shifted with the breakout above the $3,500 resistance, fuelled by increased institutional activity and a resurgence in DeFi. Data from TradingView shows solid volume accumulation alongside bullish price action, as indicated by a rising OBV metric.</p>
<h2 id="active-addresses-and-ethereum-s-role">Active Addresses and Ethereum’s Role</h2>
<p>Since the November 5 elections, Ethereum’s network activity has seen a significant rise, with active addresses growing by over 36% to 417,000. This increase reflects a rise in investor interest and broader blockchain usage. This metric, often seen as a proxy for real network activity, supports the current Ethereum rally as being based on strong fundamentals.</p>
<p>Analysts suggest this growth could signal a continued upward trajectory, especially with Ethereum’s expanding role in DeFi and NFTs, reinforcing its position as the leading altcoin in a changing market landscape.</p>
<h2 id="the-4-000-consolidation-phase">The $4,000 Consolidation Phase</h2>
<p>Ethereum’s consolidation phase at $4,000 has sparked mixed sentiments about its next move. While some predict a potential pullback, others remain hopeful, citing healthy fundamentals.</p>
<p>Breaking the $4,100 resistance could propel Ethereum towards its all-time high of $4,891. Key indicators, such as rising active addresses and sustained volume accumulation, suggest bullish momentum remains intact.</p>
<p>However, the $4,100 level presents a psychological barrier. Analysts also highlight the possibility of external factors, like macroeconomic conditions or regulatory developments, influencing Ethereum’s trajectory.</p>
<p>For long-term investors, Ethereum continues to be profitable, with gains of over 39% in the past month, positioning it as a cornerstone of the altcoin rally.</p>
<p>Ethereum’s increasing institutional adoption is apparent from the rising inflows into spot ETFs, which now boast a cumulative net inflow of $1.41 billion. The timing of these inflows aligns with Ethereum’s recent rally, amplifying bullish sentiment around the asset.</p>

Surge in Ethereum Active Addresses: Is $4000 ETH Price Next?

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CoinEagle.com

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