ETH Fundamental Strength Grows With Key Metrics Going Up

The ETH Fundamental strength grows with the key metrics starting an upside movement as well, while the rest of the market consolidates after yesterday’s breakout rally so let’s take a closer look at the ethereum price news below.

The latest rally came after BTC tried to move past its $19,400 resistance which is a level that it has to be surmounted. Until BTC is able to break this level, the rest of the market will struggle to gain more immense momentum. Until BTC is able to break this level, the rest of the market will struggle to gain any immense momentum. One analytics company noted that Ethereum’s mid-term trend could be boosted by the growing strength in the asset as they noted a few on-chain metrics that are bolstering the crypto asset and are working in the bulls’ favor.
buy naprosyn generic https://buybloinfo.com/naprosyn.html over the counter

They noted that multiple on-chain metrics are now boosting the cryptocurrency and are working in the bulls’ favor. Unless BTC drops and derails the strength, there’s a chance of a break above $500 in the days ahead.

BTC and the rest of the market were caught in a bout of consolidation over the past day which has impacted ETH by quite a bit. Yesterday, ETH was preparing for what seemed to be a test of the $600 resistance but the selling pressure proved to be intense and Bitcoin was unable to break the $19,400 region which created headwinds on the market. One analytics company pointed to the on-chain data which seems to show that bulls are favoring the higher levels which is imminent for ETH in the near-term.

BTC was in firm control of the aggregated market over the past few days and weeks which caused ETH and other altcoins to track its movement closely. On Sunday, the benchmark cryptocurrency rallied higher than $19,400 over the past few days and caused ETH and other altcoins to track the movement closely. On Sunday, the benchmark cryptocurrency rallied to $19,400 before losing momentum and starting to consolidate. This led ETH to see more movements to the upside but it was unable to break the $600 range. Until this level is flipped into support, ETH will be unable to gain more momentum.

According to one prominent analytics company, the on-chain indicators are now pointing to the underlying strength for ETH as now the ETH fundamental strength is growing. They noted that the number of new addresses hit a 35-month high with the new addresses interacting heavily with the network that usually is a promising sign:

 “The amount of new #Ethereum addresses hit a single-day, 35-month high Saturday. Our network growth metric picked up ETH reaching 177.5k addresses created. Notably more addresses interacting on an asset’s network is a very promising indicator for bulls.”