In 48 hours, the number of active addresses in the Ethereum blockchain jumped by almost 10% from almost 306,000 to more than 336,000. The number of network participants is growing as the leading altcoin will rise in price, Cryptoquant analysts noted.
An increase in the activity of addresses is not a guarantee of cryptocurrency growth, but they often indicate the growing interest of investors, especially in combination with an increase in price. This is what we observe. The Ethereum finally managed to overcome the resistance zone of $ 1650, which has been a ceiling since mid-April. After a strong breakthrough of the day green candle, the price of ETH crossed the $ 1790 mark, leaving the short -term range in which it was stuck.
Buyers seem to restore control of the situation for the first time in a few weeks. Now the etherium is traded above both 10-day and 20-day sliding medium, which involves growing power in the short term. At a level of slightly more than 50, the relative force index indicates a moderate bull impulse without overwhelming.
But, despite the growth of activity in the Ethereum blockchain, network demand is still low, even against the background of low commissions, which are currently at $ 0.31.
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Source: Cryptocurrency
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