Ethereum is making noise again, with the price of ETH rising steadily and Ether analysts whispering about a possible all-time high on the horizon.
Momentum is rapidly gaining momentum, fueled by growing adoption, ETF influx, and changing political dynamics. Together, these factors accumulate to position Ether for both short-term gains and long-term dominance.
Active addresses on Ethereum increase 36% month over month
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The bullish momentum is impossible to miss, with active blockchain addresses increasing by 36% over the past month. The figures don’t lie: 306,000 to 417,000 participants do not represent a slight increase; This is proof of a network that is running at full capacity.
This rise is not driven by hype, but is a clear signal of organic demand that is driving adoption – symptomatic of an ongoing uptrend.
CryptoQuant expert Burak Kesmeci highlighted how this growth reflects renewed interest from retail and institutional users, fueling a new wave of optimism in the Ethereum ecosystem.
“This growth indicates renewed organic interest and increased user participation,” Kesmeci noted. “The connection between active addresses and price progression illustrates real demand, distinguishing it from speculative cycles of the past.”
This rise couldn’t have come at a better time, as Ethereum builds momentum to potentially surpass its all-time high.
Bullish momentum behind Ether and Ethereum ETF flows
Beyond the boom in user activity, Ethereum is also benefiting from significant inflows of crypto-related ETFs. Recent data revealed that $1.41 billion was invested in spot ETFs, paving the way for sustained interest from institutional players.
These inflows are believed to provide much-needed price stability, providing a solid foundation for Ethereum’s upward movement.
#ETHEREUM I could burst at any time now.
pic.twitter.com/YkOfZrb66N
– Crypto Rover (@rovercrc) December 9, 2024
Poseidon, another trader, echoed similar sentiments, predicting that Ethereum could break out of a long-standing range to reach much higher highs.
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Political tailwinds boost market sentiment
The US election results also contributed to Ethereum’s recent rally. The victory of a pro-cryptocurrency president has revived investor confidence in financial markets. This sentiment and the 70% rise in Ethereum prices since November have helped ETH stabilize around $4,000, its highest level in nine months.
The political clarity and favorable regulatory outlook provide Ethereum with a much-needed runway to attract new capital and users. Analysts believe these conditions could pave the way for a “new season” by early 2025, with Ethereum leading the charge toward a broader market recovery.
From a technical perspective, Ethereum appears poised to make a major move. Current resistance is set at $3,800, a 99 level that Bitcoin analysts believe could pave the way for a retest of its all-time high of $4,878. This bullish narrative is also supported by increasing ETF flows and growing retail participation, demonstrating sustained confidence among investors.
With Ether already showing structural changes and consistent bullish momentum, some experts believe that a 24% weekly gain to reach a new high is not out of the question. Others even speculate that institutional purchases from ETFs and growing flows will catalyze sustained price appreciation.
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Will Ethereum price break records?
(ETHUSDT)
Ethereum has reached an unprecedented level of negativity this year, which only reinforces the hypothesis that we could see a huge reversal.
Ethereum’s foundations have never been stronger. A strong network, a growing user base, and macro conditions that tilt in its favor stack the cards for Ether. Of course, nothing is set in stone, but the ground beneath appears stable enough for another historic run.
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