The encryption market offers an upward shift after the Federal Reserve decision to maintain a fixed interest rate of 4.25-4.5 %. Renewed purchase compression is supported by bitcoin to restore a brand of $ 105 thousand and ETAREUM price to $ 3,200. However, the ETH relief gathering can develop into constant recovery as it enhances the onchain activity to penetrate from a 50 -day correction.
The most prominent major events:
- Over the past two months, the ETHEREUM price has seen a steady correction within the falling pattern
- Ethereum price is less than 1 % of the bullish collapse of the sorry pattern.
- The ETH daily chart offers $ 3000 and $ 2800 as main support levels.
Ethereum Eyes collapse prices as 37 % active deals
In the last two days, the ETHEREUM price jumped from $ 3,054 to $ 3,264, which is 7 % increase. While the Federal Reserve Fixed Policy has strengthened this height, the ETH network has seen a significant growth in ONCHIN’s activity.
according to INTOTHEBLOCK Data, the active ETHEREUM addresses increased by 37 %, reaching 670,000 last week, overcoming the highest level in March 2024 at 400,000. The number of upper addresses indicates the increasing user participation, high transactions activity and the impact of the reinforcement network.
The increase in ONSAIN’s activity with the last price jump indicates the bullish momentum to convert a height.
Ethereum price is close to the main penetration
The ETHEREUM price correction in the daily chart shows the formation of a falling spoiler style. The preparation of the graph is characterized by two coverage lines, which leads a temporary decrease in the price to restore the exhausted bullish momentum.
Since mid -December, the ETH price has echoed several times of these trends, indicating the credibility of the pattern and the effect on future movement. With a leap inside of the day by 5 %, the currency price is preparing to challenge the upper direction line.
The successful face of the resistance to support will pay a 14 % increase to $ 3,720, followed by $ 4100.
However, if the broader uncertainty continues in the market, the Eth is struggling for collapse and leading to a long fall less than $ 3,000.
Also read: Illinois suggests a 5 -year minimum bitcoin reserve
