$ETH Ethereum’s On-Chain Metric Hints at More Upside: SOPR Signals Strong Market Confidence
Ethereum (ETH) continues to ride the current crypto uptrend, with its price surging over 80% since Bitcoin’s rebound in early April. Adding to the bullish sentiment, crypto analyst Burak Kesmeci has highlighted a key on-chain signal suggesting more gains could be on the horizon.
What’s SOPR and Why Does It Matter?
Kesmeci points to Ethereum’s Spent Output Profit Ratio (SOPR), a metric that shows whether investors are selling at a profit or loss. A SOPR above 1 means $ETH holders are realizing profits on their sales — a clear sign of strong market sentiment.
Currently, Ethereum’s SOPR stands at 1.02. This indicates that holders are offloading ETH at higher prices, which often leads to healthy market movement driven by strategic profit-taking, not panic selling. According to Kesmeci, this is a solid sign that the recent ETH rally is sustainable.
Earlier in 2025, Ethereum’s SOPR had hovered around the neutral 1.0 mark, reflecting mixed market sentiment. But now, with the bull market gaining traction, the metric has consistently stayed above 1 — signaling growing investor confidence and a potential for continued upward movement.
Price Outlook
At the time of writing, $ETH is priced at $2,523, with minor 24-hour losses of 0.60%. Still, it remains in the green on broader timeframes, up 2.20% for the week and 42.96% over the month. Ethereum now eyes its next resistance at $2,700 — a level it’s struggled to break twice in recent weeks. A successful breakout here could open the door for a push toward $4,000 in this market cycle.
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