Ethereum shows new signs of strength in on-chain and price action, with active addresses surged and ETH prices breaking past critical resistance levels that were ultimately held back for more than a week.
From April 20th to April 22nd, the number of active Ethereum (ETH) addresses increased by nearly 10%, up from around 306,000 to over 336,000, according to data shared by Cryptoquant analyst Carmelo Alemán. This rise indicates an increase in network participation at a time when ETH began to regain bullish momentum.
Although they do not guarantee an upward movement, a surge in address activity is an early sign of emotional change, and frequently indicates a growing interest among investors, especially when combined with price increases.
Ethereum is getting hot!
“Ethereum’s active address jumps from 306,211 to 336,366, representing a 9.85% increase in just 48 hours” – @oro_crypto
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– cryptoquant.com (@cryptoquant_com) April 23, 2025
And that’s exactly what we see. ETH ultimately surpassed the $1,650 resistance zone. This is the level that has been functioning as a ceiling since mid-April. Following a powerful green daily candle breakout, ETH prices exceeded $1,790, leaving the short-term range that it was stuck in.
Ethereum price analysis. Credit: crypto.news
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It appears that buyers are regaining control after a few weeks. ETH is currently trading above both the 10-day and 20-day moving average, suggesting strength growth in the short term. Above 50, the relative strength index shows mild bullish momentum without over-purchase.
Moving average convergence/divergence also begins to show initial signs of trend shifts, resulting in a slight positive effect. However, not all indicators are completely agreed. The stochastic RSI is already approaching the top of its range. This could indicate short-term fatigue if more buyers do not enter the market.
One important factor to watch is the transaction fees on Ethereum. According to data from YCharts, the network costs abnormally low, on average at around $0.31. This indicates that, despite the inexpensive use of the network, on-chain demand is still low.
Still, the short-term outlook appears to be better than in weeks as active addresses rise and ETH outweighs previous resistance. If momentum continues, the next major test is whether ETH can run towards $2,000.
read more: Ethereum ETF sees the biggest daily influx from February as ETH recovers $1,700
