Crypto
Ethereum Price Eyes Breakout as New Addresses Surge 75% in Eight Days
The Ethereum price has been hovering near $1,880 as it holds close to its middle Bollinger Band. This neutral momentum and six weeks of sideways action have kept ETH within a narrow range.
New daily addresses for Ethereum have surged by about 75% in just eight days, rising from 121,210 on August 8 to 212,560. This acceleration in network growth adds a constructive signal for the asset's price movement.
The current levels of $1,920 and $1,933 serve as clear confirmation points for traders. A move above the upper Bollinger Band at $1,933.04 could pave the way for a test of $2,000 before potentially reaching the target of $2,200.