Ethereum Recovery Hints at Sustainable Rally
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Key Takeaways
Ethereum (ETH) is showing early signs of recovery. In recent days, the number of active wallets has increased significantly. At the same time, developer activity remains at a high level. Technical indicators such as the Golden Cross also suggest a potential upward movement. These developments could lay the foundation for a new price rally.
Rising Wallet Activity as a Signal
Within just 48 hours, the number of active Ethereum wallets grew by nearly 10%. Specifically, it rose from 306,211 to 336,366. Notably, this increase occurred while the ETH price dropped to USD 1,585.70. Such movements often indicate long-term oriented investors building positions during price declines.
This assumption was quickly confirmed. The ETH price recovered to USD 1,756 by April 22 — an increase of 24% from the local low.
Developer Activity Remains Strong
Ethereum maintains its leading position in blockchain development. With around 2,500 new code commits, Ethereum is well ahead of competitors like Solana (SOL), Near Protocol (NEAR), Cosmos (ATOM), and Sui (SUI), each of which remains below 1,500 commits.
Why is this important? Developers are the backbone of any blockchain. More commits mean new features, bug fixes, and improved security. An active development team strengthens confidence in the network’s long-term future.
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Technical Indicators Point to Uptrend
The charts reveal a so-called Golden Cross, where the short-term moving average crosses the long-term moving average from below — a classic buy signal. Additionally, ETH is moving into the lower zone of the Ichimoku Cloud, an area that often signals trend reversals.
Another positive signal: the Tenkan-Sen line (blue line) has crossed above the Kijun-Sen line (red line). This is also interpreted as an indication of a potential upward trend reversal.
Currently, Ethereum is trading at around USD 1,776. Although the yearly high has not yet been reached, signs are mounting for a potential continuation of the upward movement.
Our Assessment
Ethereum currently shows a healthy mix of increasing user activity, strong developer engagement, and positive technical signals. These factors could provide the foundation for a sustainable price rally. Those interested in cryptocurrencies should closely monitor Ethereum’s further development. The combination of fundamental strength and technical signals makes ETH particularly exciting at the moment.
Sources
- TradingView
- X (formerly Twitter)
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| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $1,787.28 |
| 24h % | 0.84 % |
| 7d % | 11.93 % |
| 30d % | -11.42 % |
| 60d % | -26.59 % |
| 1y % | -42.90 % |
| Market Cap | $215,723,709,212.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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