Ethereum Addresses in Profit Increase to Nearly 60% Since April Lows

Ethereum is currently trading above $2,500, maintaining momentum despite a 60% loss since December 2024. Bitcoin's recent all-time high has sparked optimism for a potential altcoin rally.

For Ethereum to lead in an altcoin rally, it must surpass resistance levels and confirm recovery.
A key metric from Sentora shows the share of profitable addresses dropped from over 90% to 32% by April 2025.
Recent price action indicates Ethereum bulls are regaining control, with a breakout above $2,200 initiating a bullish structure.
ETH spiked above $2,550 before retracing to $2,400, but has since stabilized.
Analysts anticipate a breakout if ETH converts $2,700 into support amid diminishing selling pressure.
The percentage of profitable ETH addresses has risen to nearly 60%, reflecting significant recovery.

Current Price Action

Ethereum is testing critical resistance at $2,687, having gained 5.3% in the last day. The asset is challenging its 200-day simple moving average at $2,702, which has historically posed resistance.

Strong upward volume supports the bullish trend, indicating renewed buyer interest.
The 200-day exponential moving average at $2,444 has provided essential support throughout May.
A decisive close above $2,700 could initiate a rally toward $3,000.
Bulls need to maintain prices above $2,600 to sustain breakout potential; otherwise, a pullback to $2,400–$2,450 may occur.