Ethereum

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-regains-ground-with-strong-market-indicators/" data-wpel-link="internal">Ethereum Regains Ground with Strong Market Indicators</a><br></p>
<p style="text-align: justify">The world’s second-largest cryptocurrency, <strong><a href="https://coin-turk.com/ethereum-eth-binance-coin-bnb-ve-ada-coin-rekabetinde-kazanan-kim-olacak" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/ethereum-developers-consider-raising-validators-maximum-stake-to-2048-eth/" data-wpel-link="internal">ETH</a>)</strong>, has regained much of the ground it lost since dropping to a monthly low of $3,000 in March. The price of <a href="https://en.coin-turk.com/ethereums-price-movement-and-future-outlook/" data-wpel-link="internal">Ethereum</a> (ETH) is trading at $3,615, up 2.5%, with a market capitalization of $433 billion.</p> 
<h2 id="ethereum-address-numbers">Ethereum Address Numbers</h2> 
<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoin-and-ethereum-active-supply-hit-record-lows/" data-wpel-link="internal">Cryptocurrency</a> analytics firm <strong>Santiment</strong> highlighted the significant recovery in Ethereum’s price over the past weekend. This recovery followed a notable 25% drop between March 11 and 19. Notably, the number of Ethereum addresses holding the cryptocurrency reached an all-time high of 118,230, indicating increased investor participation.</p> 
<p style="text-align: justify">Additionally, the mid-term market value to realized value (MVRV) ratio shows a slight uptick, signaling potential positive market sentiment. Ethereum whale transactions have also increased over the past week, further suggesting a continuation of the upward price movement. Another bullish indicator is the large portion of Ethereum supply leaving exchanges, with ETH exchange reserves reaching new lows.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-335724 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/eth.jpeg" alt="" width="2048" height="1379"></p> 
<h2 id="eth-trend-line">ETH Trend Line</h2> 
<p style="text-align: justify">Ethereum continues to maintain its position above the $3,550 level, supported by the 100-hour simple moving average. A significant bullish trend line is also forming on the ETH/USD hourly chart around a support level of $3,550. This trend line closely aligns with the 61.8% Fibonacci retracement level calculated from the recent rise between the lowest level of $3,491 and the highest level of $3,654.</p> 
<p style="text-align: justify">However, resistance near the $3,630 level is expected, followed by a more significant barrier around $3,650. Further upward momentum could push Ethereum towards a crucial level at $3,680, where it may encounter resistance. If this resistance is breached, Ethereum could target the $3,880 resistance level. A sustainable upward trend could even drive the price towards the significant milestone of $4,000.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-regains-ground-with-strong-market-indicators/" data-wpel-link="internal">Ethereum Regains Ground with Strong Market Indicators</a></h5>

Ethereum Regains Ground with Strong Market Indicators

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