Ethereum Nears ATH, But $2,900 Resistance Looms
The post Ethereum Nears ATH, But $2,900 Resistance Looms appeared on BitcoinEthereumNews.com.
Key Notes On-chain data highlights a strong support level at $2,370, with minimal resistance above it. Yet, broader crypto market sentiment has been shaken by geopolitical concerns, including potential U.S.tariffs on the EU. Spot Ethereum ETFs are experiencing increased inflows, totaling $110 million on Thursday. Ethereum ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B price has been showing major strength recently, rising to the crucial resistance of $2,700, with a massive 50% upside in the last 15 days. However, the altcoin is encountering significant resistance at this level and must break through it with strong trading volumes to confirm the uptrend. Although on-chain metrics indicate underlying strength, Ethereum bulls need to surpass the “Active Realized Price” of $2,900 to secure a sustained rally toward all-time highs. Ethereum Price Analysis: Key Metrics Indicate Bullish Momentum On-chain analytics firm Glassnode has highlighted significant milestones for Ethereum (ETH) as the cryptocurrency continues to show bullish momentum. In May, ETH climbed past its Realized Price of $1,900, signaling a return to profitability for the average holder. The current price has also surpassed the True Market Mean of $2,400, which Glassnode views as a bullish indicator for the asset. However, analysts suggest that reclaiming the Active Realized Price at $2,900 is essential to solidify investor confidence and sustain the upward trajectory. This level represents the average acquisition price of the most active participants in the Ethereum market. In May, $ETH broke above its Realized Price at $1.9K, putting the average holder back in profit. Price is now above the True Market Mean ($2.4K), a bullish sign – but reclaiming the Active Realized Price at $2.9K remains key for further confidence: https://t.co/EdqeH4GGXO pic.twitter.com/BHEN9Mgdfs — glassnode (@glassnode) May 23, 2025 As of press time, ETH price is facing some selling pressure…
Filed under: News - @ May 23, 2025 4:25 pm