Ethereum nears bullish 2021 level, igniting bullish sentiments.
The number of active ETH addresses jumped to 674,880.
Several bullish indicators signal an ETH price pump.
With a new start to the week, the month of August is experiencing what could be an extremely bullish month that could lead to highly bullish new ATH prices for promising crypto assets. Presently, both the prices of BTC and ETH are on a promising recovery trajectory, fueling bullish expectations. In fact, analysts notice that Ethereum nears bullish 2021 levels as the number of active ETH addresses jumps to 674,880.
Ethereum Nears Bullish 2021 Level
The pioneer crypto asset, Ethereum (ETH), was expected to break past the $4,000 last week. However, due to external market influences, the crypto market entered a small correction phase. Despite this, expectations remain high for promising crypto assets to secure higher highs and work their way up to hitting their next ATH price targets. In particular, for the price of ETH, targets above $4,000 are expected soon.
In detail, for the last few weeks, the price of ETH rose from the $3,600 price range and broke past both resistance levels of $3,800 and $3,900. This led to bullish sentiments for the pioneer altcoin assets as many analysts and traders were eager to see altseason’s peak phase arrive, a phase that can only arrive once the price of Ethereum (ETH) starts to pump and set new ATH targets.
While the price of ETH is still a over a 25% pump away from its previous ATH price set 4 years ago in the $4,891 price region, analysts believe that once ETH breaks past the $4,000 price range, the price of ETH will hit $4,200 and then $4,500 before finally moving towards hitting new ATH targets above the $4,800 price range, starting with $4,900, finally triggering the start of altseason and its peak phase.
Number of Active ETH Addresses Jump to 674,880
https://twitter.com/IncomeSharks/status/1952078684942467374
So far, several bullish indicators announce the imminent arrival of the bullish altseason peak phase. One such indicator is that the number of active ETH addresses jumped to 674,880, meaning that Ethereum is nearing 2021 bullish levels. Furthermore, other indicators include the fact that ETH went into the buy zone, filled it, and is now back out of it. As the post above confirms, the analyst concludes a Super Trend ahead, following a clean bounce.
https://twitter.com/IncomeSharks/status/1952143207476990098
Similarly, additional posts and observations on the ETH price chart from the same reputed trader and analyst proves that the asset isn’t done building its staircase isn't done building yet, as a small red candle following almost 14 straight green candles won’t hinder a greater surge. Lastly, the analyst states that the ETH chart may be looking like a fakeout, but the same thing happened at the $2,400 price range, meaning a surge is expected ahead.
