The recent price decline of Ethereum’s ETH seems to have halted, as the token saw a significant increase in value in the last 24 hours. This surge, of over 7%, has brought optimism to the market, with indicators pointing towards a bullish trend for the altcoin. The recovery in price comes after a crash on April 12th that pushed ETH below $3k, causing concern among investors.
With the price of ETH now above $3,050, there is speculation of a potential bull run on the horizon. As the market sentiment turns positive, key metrics like the exchange reserve dropping and an increase in active addresses and transaction counts are signaling a potential uptrend for Ethereum. Technical analysis of ETH’s daily chart also suggests further price increases, with targets set at $3.34k, $3.6k, and possibly even $3.8k if the bullish momentum continues. The overall outlook for Ethereum appears optimistic, with the possibility of a sustained rally in the coming days.