Altcoins News
By Evie Vavasseur
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Ethereum (ETH) is gaining bullish traction as a key supply shift unfolds. Since mid-April, the amount of ETH held on centralized exchanges has dropped significantly—from 4.
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At the time of writing, ETH is trading at $2,605.85, up 2.77% over the last 24 hours. With fewer tokens on exchanges, selling pressure is weakening, giving bulls more room to…
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What makes this reduction significant is the shift in market psychology. Rather than viewing ETH as a speculative trade, more investors are now treating it as a long-term asset,…
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Yet, as ETH approaches the crucial $2,665 resistance level, the path forward may not be smooth.
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Traders are advised to keep a close eye on this range. While a breakout appears possible, brief consolidation or pullbacks may occur as the market digests recent gains.
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Interestingly, network fundamentals remain robust despite a dip in gas usage. Recent data shows Ethereum gas consumption has fallen to 14.
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Supporting this view are key on-chain metrics. Ethereum currently records over 555,000 Daily Active Addresses and 1.
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On the profitability front, the majority of ETH holders—over 81%—are currently in the green.
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Overall, Ethereum appears to be at a pivotal juncture. Falling exchange reserves, strong user activity, and a high percentage of profitable holders point to a market gearing up…
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With technical and on-chain signals aligning, Ethereum’s next move could be one of its most significant in months.
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