Currently, Ethereum (ETH) shows a price of around $1,785 USD, up over 12% on a moderate upward trend. The increase is 2.3% over the last 24 hours.
This positive momentum is supported by a notable increase of nearly 10% in active addresses in just two days. Additionally, accumulation addresses have acquired more than 1.1 million ETH recently, indicating increased confidence from long-term investors.
However, Ethereum faces technical resistance around 1,780
and support at 1,725 $. A breakout above this resistance could pave the way for progress, while a drop below the support could lead to a correction towards 1,700 or 1,650 $.
In summary, the current trend is slightly bullish, with favorable technical and fundamental indicators. Nevertheless, caution is warranted due to the inherent volatility of the cryptocurrency market.
