Ethereum (ETH) is poised for a price surge, check out why!

Jakarta, Pintu News – Ethereum has shown a significant market recovery in late April, breaking through the $1,800 mark again. After a long price correction since December 2024, the leading cryptocurrency seems to be starting to show bullish momentum that might change investors’ fortunes. Leading crypto analyst Burak Kesmeci recently gave a positive outlook on this development.

Ethereum Retail Investor Flows Support the Bullish Case

Burak Kesmeci, in a post on X on May 2, suggested that Ethereum (ETH) may be entering a prolonged price upward trend based on the activity of short-term holders. According to this experienced analyst, the number of short-term Ethereum (ETH) holders or traders, which currently stands at 3.92 million, must pass 4 million to show that the Ethereum (ETH) market has enough bullish power for a strong uptrend.

Short-term holders are typically wallets or addresses that have recently acquired Ethereum (ETH), usually for less than 155 days. These investors are typically sensitive to market trends and price volatility, often driven by speculation and quick profit-taking rather than long-term conviction.

Also Read: Potential Impact of Dogecoin ETF on Crypto Price and Market

Ethereum’s Long-Term Holders Show Market Confidence

Meanwhile, the number of Ethereum (ETH) long-term holders has reached 104.24 million, indicating strong market confidence in the asset’s price appreciation prospects. The increase in the number of long-term holders usually occurs due to the maturation of the coin when short-term holders choose not to sell for more than 155 days.

Kesmeci emphasized that as long as the number of short-term holders of Ethereum (ETH) remains below the 4 million threshold, this could reflect insufficient market demand to sustain the current rally of Ethereum (ETH).

Ethereum 365-Day SMA Hurdle

In addition to the developments in the short-term hold group, Burak Kesmeci also noted that Ethereum (ETH) is still well below its 365-day simple moving average (365 SMA), indicating that the market bulls are not yet fully in control of the market. The 365 SMA measures the average closing price over the past 365 days.

It is used to indicate price trends and often acts as resistance in a bearish market or support in a bullish market. Although there have been recent market gains, Ethereum (ETH) must move above its 365 SMA of $2,849 to confirm the intention of a strong uptrend.

Conclusion

Looking at the activity of short-term and long-term holders as well as the position of SMA 365, investors and market watchers may need to consider these factors in making their investment decisions. Ethereum (ETH) is showing some promising signals, but there are still some hurdles to overcome to ensure a sustainable uptrend.

Also Read: Ethereum Outperforms Bitcoin: The Impact of Vitalik Buterin’s Proposal and Adam Back’s Response

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum Ready for Price Rally as STH Numbers Set to Cross 4 Million – Here’s Why. Accessed on May 5, 2025
• Featured Image: Decrypt