Ethereum (ETH) has shown notable strength, trading near $3,360 after a strong rally. Positive momentum suggests a continued bullish trend, with key resistance at $3,440. Breaking this level could drive prices toward $3,600. However, falling below $3,185 may invalidate this outlook.
Market Overview
- Support: $3,240
- Resistance: $3,500
- Trend: Bullish
Stochastic indicators hint at short-term fluctuations, but the broader trend remains positive.
On-Chain Activity and Metrics
Ethereum’s network shows rising daily transactions, now averaging 1.22 million, up from 1.1 million three months ago. Whale accumulation is reducing selling pressure, boosting confidence. However, fewer new addresses are being created due to Layer 2 solutions like Base, which rely on Ethereum for settlements.
Key Indicators
Exchange inflows are declining, signaling reduced selling pressure. Retail interest is growing, with short-term holders increasing. Long-term holders remain confident, keeping ETH supply constrained.
Price Predictions
- 2024: Increasing institutional demand and ecosystem growth could push ETH to new highs.
- 2025: Continued adoption may help ETH surpass its all-time high, potentially exceeding $5,000.
Ethereum’s fundamentals and ecosystem growth reinforce its bullish outlook. Watch for updates on Ethereum price, Ethereum news today, and Ethereum price prediction as the market evolves.