In a notable development indicating a potential shift in market direction, the Ethereum (ETH) cryptocurrency has seen a significant increase in activity on its network, coinciding with its breakout above a technical resistance level that had limited its gains over the past two weeks, reinforcing expectations of a new bullish wave.

Analytical data published by the expert on the 'CryptoQuant' platform, Carmelo Aleman, revealed that the number of active addresses on the Ethereum network rose by nearly 10% during the period from April 20 to April 22, climbing from about 306,000 to over 336,000 addresses. This increase is viewed as a sign of renewed interest from users and investors, especially amid supportive price movements.

After a period of volatility within a narrow range, ETH successfully surpassed the resistance level of $1,650, driven by strong buying momentum that broke the technical barrier and rose above $1,790, marking an exit from the stagnation that had prevailed since mid-month.