{"id":17251,"date":"2024-08-13T01:12:11","date_gmt":"2024-08-13T01:12:11","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=17251"},"modified":"2024-08-13T01:12:11","modified_gmt":"2024-08-13T01:12:11","slug":"ethereum-could-see-a-100-surge-as-bulls-gain-momentum","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/ethereum-could-see-a-100-surge-as-bulls-gain-momentum\/","title":{"rendered":"Ethereum Could See a 100% Surge as Bulls Gain Momentum"},"content":{"rendered":"\n<p>Recent trends show Ethereum making strides on the daily chart, bouncing back from last week&#8217;s decline. With a current increase of about 25% from its August lows, Ethereum could be on the path to reaching $2,600 and potentially soaring to $3,300 if buyers continue to dominate the market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Majority_of_Ethereum_Addresses_See_Profits\"><\/span>Majority of Ethereum Addresses See Profits<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>IntoTheBlock data indicates that a significant 66% of Ethereum addresses are currently in a profitable position. Despite the volatility in the past five months following the peak in March 2024, most holders are in the green, indicating a positive sentiment among investors.<\/p>\n<p><\/p>\n<p>This bullish scenario suggests that ETH holders are likely to maintain their positions rather than panic selling, as observed when a larger percentage of addresses are in a loss. Further data from IntoTheBlock reveals that the last time 66% of all ETH addresses were profitable was in October 2023.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETH_Accumulation_Indicates_Bullish_Sentiment\"><\/span>ETH Accumulation Indicates Bullish Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Historically, during October 2023, Ethereum saw a strong bounce and subsequent rally to $4,100 by March 2024. While past performance does not guarantee future results, recent market activities, alongside ETH&#8217;s recovery, are boosting optimism among buyers.<\/p>\n<p>Based on CryptoQuant data, Ethereum addresses holding varying amounts of ETH have been actively accumulating, with a total addition of 757,000 ETH among select entities. This accumulation trend indicates positive confidence in the future price movements, which is favorable for bullish momentum.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-314865\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/08\/1723511464_573_Ethereum-At-A-Key-Point-Are-ETH-Bulls-Preparing-For.jpg\" alt=\"Ethereum accumulation | Source: CryptoQuant via Telegram\" width=\"1024\" height=\"483\" data-recalc-dims=\"1\" \/><\/p>\n<p>Looking ahead, Ethereum may face resistance around $2,700, which marks the August 5 highs. To sustain the upward trend, a decisive breakthrough above this level with increased trading volume is essential. A successful breach could set the stage for ETH to target $3,500, a level reached in July 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent trends show Ethereum making strides on the daily chart, bouncing back from last week&#8217;s decline. With a current increase of about 25% from its August lows, Ethereum could be on the path to reaching $2,600 and potentially soaring to $3,300 if buyers continue to dominate the market. Majority of Ethereum Addresses See Profits IntoTheBlock [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17252,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Ethereum Could See a 100% Surge as Bulls Gain Momentum - Bitrabo","description":"Recent trends show Ethereum making strides on the daily chart, bouncing back from last week's decline. With a current increase of about 25% from its August lows"},"footnotes":""},"categories":[316],"tags":[1254,902,768,459,1058,2569,539],"class_list":["post-17251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bulls","tag-eth","tag-ethereum","tag-key","tag-point","tag-preparing","tag-surge"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/17251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=17251"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/17251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/17252"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=17251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=17251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=17251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}