Ethereum Price Prediction: ETH/USD resumes its bullish path above $250 after establishing a clear higher low
- ETH/USD is currently trading at $244.47 and getting close to $250.
- The most important resistance area is located between $250 and $253.47.
Ethereum has resumed its mission to crack $250 and climb above the high of $253.47. Bulls managed to establish a higher low at $235.56 and are seeing a continuation of the daily uptrend. The next resistance level is the high at $248.98 formed on July 8 and then all the area between $250 and $253.5
Fundamental metrics are in favor of Ethereum in the long-term
According to Glassnode, the number of active Ethereum addresses has been increasing since January 2020. Another important metric is the number of Ethereum addresses with more than 10 coins. This number started to significantly increase right after the crash on March 12.
In February 2019, there were around 260,859 addresses with 10 or more Ethereum coins. On June 4, this number increased to 275,943, a significant rise that indicates people are buying to hold for the long-term.
ETH/USD technical levels
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
