Ethereum’s Bullish Week: 5 Million Active Addresses Lead to 14.5% Increase
Contributor
Posted:
- ETH price has increased by 14.5% in the past week.
- The number of active Ethereum addresses has surged to 5 million this week as more buyers have entered the market.
Following a weekly low of $2,251 on September 16, Ethereum [ETH] has experienced a significant uptrend. As of now, ETH is trading at $2,641, marking an impressive increase of 14.50% over the last week.
Previously, Ethereum was on a downward trajectory for most of the month.
This shift in market sentiment has led analysts to speculate whether this uptrend marks a sustained recovery and what factors are contributing to it. Analysts believe that the uptick is being driven mainly by an influx of active buyers.
Market Sentiment Analysis
A report from ChainStatsPro highlights an increase in both active buyers and spot limit orders.
This situation reflects that liquidation hunts in ETH futures markets have ceased while spot limit orders are being met. Despite this activity, CVD remains static with bids and offers accumulating at $2400 and $2790 respectively.
) Suggests that buyers are consistently purchasing ETH which indicates stronger demand. Traders appear prepared to buy ETH should prices dip to $2400 while simultaneously looking to sell above $2790. Such order placements signal heightened market engagement. p >
The rise in active addresses over the past week clearly points towards increased activity among both buyers and investors who are establishing more spot limits than before. p >
IntoTheblock reports that there have been approximately 5 million active addresses within just seven days—this reflects greater transactional volume as users ramp up their activity on the network indicating bullish trends; with rising address numbers typically correlating with higher asset valuations.
Analysis From The Charts… h2 >
ChainStatsPro indicates solid growth regarding transaction volumes linked directly back toward positive momentum observed during recent weeks across all activities within Ethereum’s ecosystem.
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“The positive Chaikin Money Flow (CMF) for Ethereum stood at **0.28** upon publication shows buyer accumulation intentions continuing warmly.”
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Moreover;
This trend reflects overall strengthening positivity translating into ERC20-aligned altcoins potentially seeking further gains ahead.
If prevailing trajectories remain stable **Ethereum’s approach towards tackling** $”2800 should materialize soon.”
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245) – பா( (@”
“The positive Chaikin Money Flow (CMF) for Ethereum stood at **0.28** upon publication shows buyer accumulation intentions continuing warmly.”
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εκ인̔무찬합니다 teşekkürler리필됩니다 하여8%− STL+=427::_”=”[email protected].”
Moreover;
This trend reflects overall strengthening positivity translating into ERC20-aligned altcoins potentially seeking further gains ahead.
If prevailing trajectories remain stable **Ethereum’s approach towards tackling** $”2800 should materialize soon.”
}}
Boo!!🔹”
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