Ethereum [ETH] has been making waves in the cryptocurrency market recently, with significant accumulation activity by whales and a surge in network growth supporting its bullish momentum. The latest on-chain data reveals that over $5.7M worth of ETH was acquired via Aave [AAVE] loans, while a newly created wallet withdrew $4.12M from Binance, indicating a strong investor conviction.
At the time of writing, Ethereum is trading at $1,819.34, showing a mild 0.45% gain in the last 24 hours. Despite the subdued price action, the influx of capital and exchange withdrawals suggest a broader bullish thesis taking shape.
Traders seem to be waking up to the potential of Ethereum, as Open Interest has jumped by 4.67% in the last 24 hours, reaching $12.06 billion. This surge indicates renewed speculative appetite, with market participants re-entering long and short positions. The increase in Open Interest confirms a rising market conviction following a consolidation phase, often preceding stronger price movements.
User activity on Ethereum’s network is also on the rise, with active addresses increasing by 13% in the past seven days and new addresses surging by 45.24%. Zero-balance addresses have also risen by over 102%, indicating re-engagement from dormant wallets or rotation among holders. This uptick in network interaction and user activity aligns with growing market interest and may support upward momentum in the coming weeks.
ETH’s price structure has confirmed a breakout from a falling wedge formation, opening the door to higher targets. The immediate resistance lies at $2,139, followed by Fibonacci extension levels at $2,354 and $2,638. Although Ethereum remains below $1,825 for now, the technical structure signals growing momentum, with the potential for a medium-term rally if buying pressure continues.
However, long traders faced significant losses on the 2nd of May, as Ethereum’s downward volatility triggered $5.29M in long liquidations, compared to only $1.07M in shorts. Binance and Bybit recorded the highest long wipeouts, exposing overleveraged bullish positions. While caution is warranted in the near term, such liquidations often clear the market of weak hands and create room for stronger trend alignment in subsequent sessions.
In conclusion, Ethereum’s current landscape reflects a market recalibrating after a flush of long positions. The combination of whale accumulation, improved network participation, and technical breakout structure puts ETH in a favorable position. If sentiment holds and inflows persist, Ethereum may gradually regain upward momentum and shift market dynamics in the coming days. There are many factors that contribute to the success of a business, but one of the most important is having a strong and effective marketing strategy. Marketing is the key to reaching new customers, retaining existing ones, and ultimately driving sales and revenue. In today’s digital age, the landscape of marketing has evolved significantly, with new technologies and platforms constantly emerging. Here are some key components of a successful marketing strategy in today’s digital world:
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