The present Ethereum (ETH) trajectory shows a positive climb within a price range oscillating between $2,280 and $2,316.04, marking a notable 3.41% uptick.
Over the last month, this cryptocurrency has demonstrated significant growth, boasting an impressive 20% surge.
Analyzing on-chain metrics reveals that 77% of ETH holders are currently in a profitable position at the current price, while 21% are witnessing losses.
Notably, larger investors hold approximately 46% of Ethereum, signaling the considerable sway wielded by whales in the market.
In terms of technical analysis, the overall assessment appears mixed.
Key indicators like the Relative Strength Index (RSI) at 59.72 and the Commodity Channel Index (CCI) at 49.05 display neutral signals.
However, the Awesome Oscillator at 49.18 and Momentum at 113.38 suggest a favorable buying opportunity.
A crucial observation lies in the alignment of all major moving averages, ranging from the 10-day to the 200-day, indicating a recommendation to buy.
Particularly, the 50-day Exponential Moving Average (EMA) at $2106.59 crossing over the 200-day EMA at $1878.54 presents a robust bullish signal.
This upward trend is further validated by a significant 30% surge in trading volume over the past 24 hours, affirming a strengthening market sentiment.
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