Ethereum

Ethereum is doing well as more people are getting involved, with the number of Ethereum addresses reaching an all-time high. Although it faced some drops recently, Ethereum is bouncing back, now trading at around $3,615, with a market value of $433 billion.<h2 id="header-0">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" />The recent increase in the number of Ethereum (ETH) accounts holding a balance and a decrease in the amount of ETH available on exchanges are positive signs for its future value.<h2 id="header-1">Ethereum’s Bullish Momentum: Signs of Continued Growth</h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/04/cryptosheadlines007.jpeg?resize&#61;640%2C431&amp;ssl&#61;1" />Source: SantimentEthereum has shown resilience in the face of market challenges, surging past the $3,000 mark last month and currently holding strong around $3,615. This upward trajectory reflects a growing interest and investment from the community.The recent milestone of Ethereum’s positive-balancing addresses reaching a record high indicates a surge in investor participation, suggesting a strengthening market sentiment. Moreover, the medium-term MVRV ratio subtly signals bullishness, further supporting positive expectations for Ethereum.Another promising <a href="https://cryptosheadlines.com/crypto-analyst-presents-4-scenarios-indicating-ethereums-potential-to-surpass-bitcoin/" rel="noopener noreferrer nofollow">indicator is the decrease in the percentage of total Ethereum</a> supply available for active trading, dropping from 15.8% to approximately 11%. This reduction in selling pressure could exacerbate supply shortages, potentially driving ETH prices higher.<h2 id="header-2">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/04/cryptosheadlines008.webp?resize&#61;640%2C360&amp;ssl&#61;1" />Source: GlassnodeConsidering Ethereum’s 57% price growth since the beginning of the year, it’s plausible to expect its value to continue climbing toward the $4,000 target. These <a href="https://cryptosheadlines.com/ethereum-developer-virgil-griffith-banned-from-exporting/" rel="noopener noreferrer nofollow">developments paint a bullish picture for Ethereum</a>, with limited coin availability and heightened investment activity likely to play key roles in its future price appreciation.<a href="https://cryptosheadlines.com/kucoin-announces-10m-airdrop-amid-legal-issues/" rel="noopener noreferrer nofollow">Also Read: KuCoin Announces $10M Airdrop Amid Legal Issues</a><h2 id="header-3">Analyzing Ethereum’s Current Price and Technical Indicators</h2>Ethereum (ETH-USD) is currently trading around $3,523.30 USD, marking a decrease of $107.91, or approximately 2.97%, from its previous recorded value.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/04/cryptosheadlines009.webp?resize&#61;640%2C288&amp;ssl&#61;1" />Source: TradingviewTechnical indicators such as the Exponential Moving Average (EMA), Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD) offer insights into Ethereum’s market sentiment. The EMA indicates a recent uptrend, while the RSI hovers in the neutral zone, trending towards overbought territory. Additionally, the MACD histogram suggests a decline in <a href="https://cryptosheadlines.com/solana-sol-signals-25-price-action-with-bullish-momentum/" rel="noopener noreferrer nofollow">bullish momentum</a>.Further analysis involves Fibonacci levels, which serve as potential support or resistance areas. Identifying confluence between these levels can help determine optimal entry or exit points for traders.<blockquote>In trading, you must always be prepared for the best and the worst!The most brutal scenario for <a href="https://twitter.com/hashtag/Ethereum?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> right now is breaching the $3,400 support level. Such a move could confirm a bear pennant formation on the daily chart, potentially triggering a major correction for <a href="https://twitter.com/search?q&#61;%24ETH&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>… <a href="https://t.co/LIXyuz8NlI" rel="noopener noreferrer nofollow">pic.twitter.com/LIXyuz8NlI</a>— Ali (&#64;ali_charts) <a href="https://twitter.com/ali_charts/status/1774793622229025079?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">April 1, 2024</a></blockquote>Analyst Ali Martinez highlights a challenging scenario for Ethereum, suggesting the possibility of breaking the $3,400 support level. This potential breach could lead to the formation of a bearish pennant on the daily chart, signaling a significant correction down to $2,800 for ETH.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Ethereum’s ATH Non-Zero Addresses Signal $4000 Price Target

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