Ethereum Price Surge: Addresses in Profit Double Since April
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Ethereum (ETH) has shown remarkable resilience, holding above $2,500 despite a significant price drop since December 2024. This surge follows a period of strong buying pressure and bullish momentum, coinciding with Bitcoin's new all-time high. Analysts are closely monitoring Ethereum's price action, hoping to confirm a recovery structure and its potential to lead an altcoin rally. A key indicator, highlighted by Sentora (formerly IntoTheBlock), shows the percentage of Ethereum addresses in profit nearly doubled since April 2025, when it plummeted to 32% after a sharp sell-off. Now, almost 60% of addresses are profitable, a level of volatility not seen since 2017. This recovery is significant, although a full recovery is still underway. The current price action sees Ethereum challenging the $2,700 resistance level; a successful break above this level could propel ETH towards $3,000, marking a major trend shift. The bullish structure is supported by strong upward volume, with the 200-day exponential moving average providing solid support. However, maintaining support above $2,600 is crucial to sustain the breakout. Failure to do so could lead to a short-term retracement. The overall sentiment is bullish, with analysts expecting a potential breakout and subsequent altseason if Ethereum maintains its momentum and breaks out of its current range. This recovery, coupled with Bitcoin's new all-time high, has injected optimism into the cryptocurrency market, raising expectations for substantial gains in altcoins.
