Ethereum Short-Term Holder Count Approaches 4 Million Amid Market Recovery
Ethereum (ETH) has shown signs of recovery, surpassing $1,800 at the end of April following a long price correction since December 2024. Analyst Burak Kesmeci suggests this could indicate a bullish trend.
Ethereum Retail Investor Inflows Support Bullish Case
- Kesmeci highlights that short-term holders of ETH are approaching a crucial threshold historically linked to price rallies.
- Short-term holders are defined as those who acquired ETH within the last 155 days, currently numbering 3.92 million.
- A significant upward trend is expected if this number exceeds 4 million.
- The count of long-term holders has reached 104.24 million, indicating confidence in Ethereum's value growth.
Ethereum SMA 365 Presents Another Barrier
- Ethereum remains below its 365-day simple moving average (SMA 365), currently at $2,849, signaling that bulls have not yet gained full control.
- ETH trades at $1,835, reflecting a decline of 0.80% over the past day and a trading volume decrease of 15.01%.