Ethereum (ETH) surpasses $4,000: On-chain data reveals a long rally ahead

Ethereum (ETH) has officially surpassed the $4,000 mark, recording a 2.49% increase in 24 hours. This event marks the first time since March 2024 that ETH has recovered to this high level. According to data from CoinGecko, the current price of ETH is trading around $4,030 with a market capitalization of nearly $485 billion, indicating strong growth, especially as Bitcoin (BTC) is witnessing a slight decline.

Although ETH is on the rise, on-chain data shows signs of short-term adjustment as the price-Daily Active Addresses (DAA) index has dropped to -64.17%. This indicates that the number of addresses interacting with ETH has decreased, warning that selling pressure may increase, pushing the price below $3,900 in the near future.

Other indicators such as Cumulative Volume Delta (CVD) also show that selling pressure is rising. If it fails to break through important resistance levels, the price could drop to $3,788, or lower, depending on the next developments in the market. Additionally, the return of whales with large transactions could create upward momentum for ETH; however, the market still needs to be sustainable and stable.