Among the first 5 crypts, Ethereum is late, Subscribe against Bitcoin, Solana and practically all the best Altcoin. Unlike Solana, which hit new maximums of all time, the SVG Eth .CWP-Coin-Chart {Wiidth: 0.65 path! IMPORTANT; }
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it is still floating Between $ 3,000 and $ 3,500, rejecting certain sellers eager to suppress prices.
However, it seems that this “bearish” state of action could end. Yesterday, despite the detention rates of the Federal Reserve, one analyst on X observed that the coin exceeded $ 3,200.
At the time of the drafting, the coin is still mistaken above this threshold and seems stopped, building momentum.
Eth price analysis: Is the Ethereum price ready to tear?
However, Eth is not yet outside the woods. Looking at the action of the ETH price, it is clear that the sellers still have control and that buyers take control, must close above the descending channel. Immediate resistance is at the level of $ 3,500.
If the bulls earn momentum, they could exceed $ 3,700 and even break over $ 4,100, 2024 highs, in a refreshing continuation for the trend of purchases. Before then, the optimistic owners could only look at the action of the price, hoping that the bulls would do so Keep above $ 3,200 shortly and medium term.
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However, the trust is high that Ethereum Bulls could shake off the weakness and resume the tendency to rise in the second half of 2023, where the currency increased up to $ 4,100 in January 2024.
While Ethereum deals with strong competition from Solana and validators must deal with low entrances following the activation of Denunc at the beginning of 2024, there are signs of greater activity.
By citing the chain data, the analyst observes that the number of addresses active on the mainnet increased by over 37%, reaching 670,000 last week. This It is almost 50% more than that has been recorded In March 2024, at 400,000, when the community was optimistic about the coin that returned to $ 5,000.
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This unexpected increase could suggest that Ethereum is preparing for a significant bull race in 2025 which could drastically lift the assessments. Even so, traders must remain cautious.
Eth Whales Mia But Vitalik Boterin has a plan for the ETH price
Although there are more new users, the number of large transactions remains submissive, in particular if compared to the runs of 2021 and 2017.
A different analysis by a user on X observes that the absence of a frenzy of whales suggests a lack of institutional demand. However, this “silence” can be positively interpreted since the coin remains higher than $ 3,000, a level of psychological support.
At spot rates, ETH can be underestimated, which is an opportunity to accumulate.
(Source)
Remains a be seen How short -term ETH prices will evolve. The community is looking at how the developers of Ethereum will manage strong competition, in particular as a single.
Until now, Vitalik Boterin has underlined the need for a multi -front approach to increase the ETH price. In a post, the co-founder underlined the need to further resize the mainnet by also consolidating ETH as primary activity through the ecosystem.
To increase ETH combustion, he suggested increasing the number of “Blob” and setting a minimum price for creating such data containers.
The patches are crucial for layer-2 solutions and help to resize off-chain activities while reducing commissions. According to its estimate, if the number of spots increases to 128, over 700,000 Eth could burnt annually.
Explore: $ 1m Catslap Crypto Burn should trigger a big rise for $ slap price
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