• bitcoinBitcoin (BTC) $ 84,469.00
  • ethereumEthereum (ETH) $ 1,918.28
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.39
  • bnbBNB (BNB) $ 593.68
  • solanaSolana (SOL) $ 133.54
  • usd-coinUSDC (USDC) $ 0.999885
  • cardanoCardano (ADA) $ 0.745210
  • dogecoinDogecoin (DOGE) $ 0.172997
  • tronTRON (TRX) $ 0.224159
  • staked-etherLido Staked Ether (STETH) $ 1,913.87
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 84,210.00
  • pi-networkPi Network (PI) $ 1.48
  • leo-tokenLEO Token (LEO) $ 9.78
  • chainlinkChainlink (LINK) $ 13.84
  • stellarStellar (XLM) $ 0.279516
  • wrapped-stethWrapped stETH (WSTETH) $ 2,291.76
  • usdsUSDS (USDS) $ 0.999767
  • hedera-hashgraphHedera (HBAR) $ 0.195783
  • avalanche-2Avalanche (AVAX) $ 18.58
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • suiSui (SUI) $ 2.34
  • the-open-networkToncoin (TON) $ 2.93
  • litecoinLitecoin (LTC) $ 91.86
  • bitcoin-cashBitcoin Cash (BCH) $ 331.75
  • polkadotPolkadot (DOT) $ 4.22
  • mantra-daoMANTRA (OM) $ 6.30
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • wethWETH (WETH) $ 1,920.01
  • bitget-tokenBitget Token (BGB) $ 4.42
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999521
  • hyperliquidHyperliquid (HYPE) $ 13.93
  • whitebitWhiteBIT Coin (WBT) $ 28.49
  • wrapped-eethWrapped eETH (WEETH) $ 2,039.84
  • moneroMonero (XMR) $ 209.99
  • uniswapUniswap (UNI) $ 6.07
  • susdssUSDS (SUSDS) $ 1.04
  • daiDai (DAI) $ 0.999657
  • aptosAptos (APT) $ 5.23
  • nearNEAR Protocol (NEAR) $ 2.62
  • pepePepe (PEPE) $ 0.000007
  • okbOKB (OKB) $ 46.31
  • ondo-financeOndo (ONDO) $ 0.875420
  • internet-computerInternet Computer (ICP) $ 5.73
  • ethereum-classicEthereum Classic (ETC) $ 18.07
  • aaveAave (AAVE) $ 174.71
  • gatechain-tokenGate (GT) $ 21.25
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 84,479.00
  • mantleMantle (MNT) $ 0.735882
  • official-trumpOfficial Trump (TRUMP) $ 12.40
  • crypto-com-chainCronos (CRO) $ 0.083465
  • tokenize-xchangeTokenize Xchange (TKX) $ 28.03
  • bittensorBittensor (TAO) $ 261.31
  • vechainVeChain (VET) $ 0.024745
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999597
  • kaspaKaspa (KAS) $ 0.079896
  • celestiaCelestia (TIA) $ 3.52
  • cosmosCosmos Hub (ATOM) $ 4.28
  • filecoinFilecoin (FIL) $ 2.89
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.214903
  • ethenaEthena (ENA) $ 0.354579
  • fasttokenFasttoken (FTN) $ 4.00
  • algorandAlgorand (ALGO) $ 0.199767
  • sonic-3Sonic (prev. FTM) (S) $ 0.527467
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 84,531.00
  • render-tokenRender (RENDER) $ 3.20
  • arbitrumArbitrum (ARB) $ 0.359918
  • story-2Story (IP) $ 5.87
  • arbitrum-bridged-usdt-arbitrumArbitrum Bridged USDT (Arbitrum) (USDT) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.527171
  • optimismOptimism (OP) $ 0.872450
  • kucoin-sharesKuCoin (KCS) $ 11.13
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.513392
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 84,228.00
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • binance-peg-wethBinance-Peg WETH (WETH) $ 1,916.48
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 1,992.55
  • movementMovement (MOVE) $ 0.452585
  • nexoNEXO (NEXO) $ 1.08
  • xdce-crowd-saleXDC Network (XDC) $ 0.068392
  • makerMaker (MKR) $ 1,173.03
  • dexeDeXe (DEXE) $ 17.34
  • injective-protocolInjective (INJ) $ 10.00
  • usual-usdUsual USD (USD0) $ 0.997836
  • blockstackStacks (STX) $ 0.643731
  • immutable-xImmutable (IMX) $ 0.551633
  • worldcoin-wldWorldcoin (WLD) $ 0.869035
  • binance-staked-solBinance Staked SOL (BNSOL) $ 139.02
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,152.43
  • sei-networkSei (SEI) $ 0.204005
  • flare-networksFlare (FLR) $ 0.015145
  • the-graphThe Graph (GRT) $ 0.094736
  • theta-tokenTheta Network (THETA) $ 0.895395
  • lido-daoLido DAO (LDO) $ 0.957219
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999746
  • bonkBonk (BONK) $ 0.000011
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 84,041.00
  • eosEOS (EOS) $ 0.503514
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,034.07
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • tether-goldTether Gold (XAUT) $ 2,981.37
  • tezosTezos (XTZ) $ 0.706823
  • galaGALA (GALA) $ 0.016613
  • wbnbWrapped BNB (WBNB) $ 593.22
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999294
  • the-sandboxThe Sandbox (SAND) $ 0.284055
  • bittorrentBitTorrent (BTT) $ 0.00000070
  • stargate-bridged-usdc-berachainStargate Bridged USDC (Berachain) (USDC.E) $ 0.999013
  • jito-governance-tokenJito (JTO) $ 2.22
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 84,218.00
  • bitcoin-svBitcoin SV (BSV) $ 33.95
  • iotaIOTA (IOTA) $ 0.182803
  • jasmycoinJasmyCoin (JASMY) $ 0.013765
  • berachain-beraBerachain (BERA) $ 6.29
  • kaiaKaia (KAIA) $ 0.110704
  • msolMarinade Staked SOL (MSOL) $ 170.05
  • pax-goldPAX Gold (PAXG) $ 2,993.35
  • flowFlow (FLOW) $ 0.402456
  • usdx-money-usdxStables Labs USDX (USDX) $ 1.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 1,995.45
  • flokiFLOKI (FLOKI) $ 0.000061
  • neoNEO (NEO) $ 8.01
  • ethereum-name-serviceEthereum Name Service (ENS) $ 17.01
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 145.66
  • pyth-networkPyth Network (PYTH) $ 0.149793
  • curve-dao-tokenCurve DAO (CRV) $ 0.410320
  • resolv-usrResolv USR (USR) $ 1.00
  • heliumHelium (HNT) $ 2.95
  • honey-3Honey (HONEY) $ 0.999552
  • beldexBeldex (BDX) $ 0.075671
  • roninRonin (RON) $ 0.840348
  • zcashZcash (ZEC) $ 32.21
  • axie-infinityAxie Infinity (AXS) $ 3.22
  • decentralandDecentraland (MANA) $ 0.272442
  • kavaKava (KAVA) $ 0.462898
  • dogwifcoindogwifhat (WIF) $ 0.507471
  • telcoinTelcoin (TEL) $ 0.005548
  • elrond-erd-2MultiversX (EGLD) $ 18.11
  • true-usdTrueUSD (TUSD) $ 0.999856
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.64
  • starknetStarknet (STRK) $ 0.175805
  • pumpbtcpumpBTC (PUMPBTC) $ 83,121.00
  • raydiumRaydium (RAY) $ 1.64
  • dydx-chaindYdX (DYDX) $ 0.622004
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999897
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,033.33
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.172667
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.675958
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 1,919.56
  • chain-2Onyxcoin (XCN) $ 0.013348
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 84,363.00
  • apenftAPENFT (NFT) $ 0.00000043
  • aerodrome-financeAerodrome Finance (AERO) $ 0.535576
  • arweaveArweave (AR) $ 6.46
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 1,920.01
  • conflux-tokenConflux (CFX) $ 0.084020
  • clbtcclBTC (CLBTC) $ 83,543.00
  • ecasheCash (XEC) $ 0.000021
  • apecoinApeCoin (APE) $ 0.519237
  • chilizChiliz (CHZ) $ 0.044148
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.006703
  • thorchainTHORChain (RUNE) $ 1.17
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  • usdbUSDB (USDB) $ 0.994922
  • hashnote-usycHashnote USYC (USYC) $ 1.07
  • lorenzo-stbtcLorenzo stBTC (STBTC) $ 83,804.00
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • matic-networkPolygon (MATIC) $ 0.216008
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 1,918.60
  • infrared-beraInfrared Bera (IBERA) $ 5.66
  • compound-governance-tokenCompound (COMP) $ 41.38
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  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 1,962.42
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5 Million Strong: Active Ethereum Wallets Drive Strong Momentum

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5 Million Strong: Active Ethereum Wallets Drive Strong Momentum

According to veteran trader Peter Brandt, Ethereum might have just seen its future looking brighter. Known for his technical forecasts, Brandt feels the altcoin is on the verge of a bullish turnaround.

He’s identified an inverted Head and Shoulders formation on the daily chart of Ethereum. This is one of the most classic buy signals in technical analysis. If ETH can hold above that neckline at $2,745, we could be looking at a breakout.

The most interesting chart developments I see right now
See thread
#1$ETH closing price chart inverted H&S pattern
I am flat in ETH pic.twitter.com/OCG0GcTdxF

— Peter Brandt (@PeterLBrandt) October 21, 2024

5 Million Strong: Active Ethereum Wallets Drive Strong Momentum

But the excitement doesn’t stop there. Data from IntoTheBlock shows that Ethereum’s network is stronger than ever, boasting over 5 million active addresses across its mainnet and Layer 2 networks.

Though market mood is still mixed, this statistic confirms Ethereum’s importance in the crypto ecosystem. Although some investors see Ethereum’s long-term future improving, others are worried by the short-term hazards.

There are now over 5 million active $ETH addresses across the Ethereum mainnet and leading L2 networks, outpacing any other Layer 1 asset by a significant margin. pic.twitter.com/W6JaauNvhV

— IntoTheBlock (@intotheblock) October 21, 2024

5 Million Strong: Active Ethereum Wallets Drive Strong Momentum

A Long-Term Play

Ethereum definitely had its ups and downs. From a price tag as low as $10 to nearly $4,900 in the past, it’s very obvious that ETH has made quite a few early believers. And while taking such wild rides can be full of gut-wrenching moments, Ethereum never failed to ensure that its core strength lies in the facilitation of smart contracts and decentralized applications in the blockchain space.

However, Ethereum’s cost basis for many investors has risen as the market has matured. This has made short-term gains more elusive, leading some traders to approach the market cautiously. But for those with a long-term view, Ethereum’s ambitious roadmap and history of overcoming challenges continue to make it an attractive option.

5 Million Strong: Active Ethereum Wallets Drive Strong Momentum

Ethereum: The Next Path

Ethereum’s present pricing behavior has one of more fascinating technical aspects: its interaction with the Point of Control (POC). Often considered as a significant support or resistance, this level could be crucial in deciding Ethereum’s next direction.

5 Million Strong: Active Ethereum Wallets Drive Strong Momentum

As ETH’s price hovers near this point, it suggests a possible buying opportunity for those looking at the long term. If the POC holds, Ethereum could build a solid foundation for future growth. But a break below this level might signal trouble ahead, so investors should stay cautious.

Will The Bullish Reversal Hold?

Brandt’s bullish prognosis gives ETH fans optimism. If Ethereum maintains over $2,745 and the inverted Head and Shoulders pattern persists, it might climb significantly.

Yet, as always, it’s essential to consider other market factors—broader trends, technical indicators, and market sentiment all play a role in shaping the future of Ethereum.

While Ethereum has its challenges, the potential for a bullish breakout is hard to ignore. Whether you’re in it for the long game or watching closely for short-term gains, Ethereum’s next move could be a significant one.

Featured image from AFP/Finance Magnates, chart from TradingView

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