🕰️ In 48 hours, the number of active addresses on the Ethereum blockchain has jumped by almost 10% from 305,000 to more than 335,000. The number of network participants is growing as the leading altcoin rises in price, analysts at CryptoQuant noted.
↗️ Increased address activity is not a guarantee of growth for a cryptocurrency, but it often indicates growing investor interest, especially when combined with an increase in price. This is what we are seeing. 🚀 Ethereum has finally managed to break out of the $1,650 resistance zone, which has acted as a ceiling since mid-April. After a strong breakout of the daily green candle, the ETH price crossed the $1,790 mark, breaking out of the short-term range in which it was stuck.
💰 Buyers seem to be regaining control of the situation for the first time in weeks. Ethereum is now trading above both the 10-day and 20-day moving averages, suggesting growing strength in the short term. At just over 50, the RSI indicates moderate bullish momentum without being overbought.
