Ethereum (ETH), the second crypto by market capitalization after Bitcoin, continues to generate great interest among investors and analysts, especially in light of recent news about its profitability and profit.
According to an analysis conducted by the CryptoQuant analyst, known as Baykuş, a surprising 79.92% of Ethereum addresses are currently in profit. This data, reported on X (formerly Twitter), highlights a particularly favorable situation for ETH holders, indicating not only a solid bull phase but also a general confidence in the potential of Ethereum.
The importance of a high number of addresses in profit for Ethereum
When such a significant percentage of addresses is in profit, as in the current case of Ethereum, one can speak of a climate of optimism in the market. This not only represents a gain for those who have already invested, but can also attract new investors, as an asset in strong profit tends to have greater appeal. Such a scenario could further support the price of ETH and encourage the entry of new capital into the market.
But why is it so important that almost 80% of the addresses are in profit? This figure indicates that the majority of investors have purchased ETH at a lower price compared to the current one, demonstrating that the long-term trend for Ethereum has been largely positive. In this way, investors are incentivized to maintain their positions rather than sell, reducing selling pressure and supporting the value of the cryptocurrency.
Support and resistance levels: analysis by Baykuş
In addition to the percentage of addresses in profit, the analyst Baykuş also provided a technical assessment on Ethereum, highlighting the main support and resistance levels that could influence price movements in the short term.
Understanding these levels is crucial for investors, as it provides indications of possible thresholds where the price might encounter resistance (that is, a point where it might start to fall) or support (that is, a point where the price might find a base to rise again).
Baykuş has identified key levels that could act as a barrier or boost for the price of Ethereum. For example, if ETH approaches a strong resistance level and fails to surpass it, we might observe a phase of consolidation or even a price correction. Conversely, a solid support level could sustain the price even in a bear market, offering investors an interesting entry point or a confirmation to maintain their positions.
Future prospects for Ethereum
The fact that almost 80% of Ethereum addresses are in profit suggests that the market sentiment is strongly bull, which could be reflected in further price increases in the future.
Ethereum is not just a cryptocurrency, but also a platform for developing decentralized applications (DApp) and smart contracts, an aspect that gives it an intrinsic value higher than many other cryptocurrencies.
The interest in Ethereum is also supported by recent technical developments, such as the transition to the Proof of Stake (PoS) consensus model with Ethereum 2.0, which has reduced the environmental impact of the network and potentially improved its scalability and security.
These improvements suggest that Ethereum may continue to maintain and increase its dominant position in the cryptocurrency market, attracting both institutional and retail investors.
Conclusion
The current situation of Ethereum, with almost 80% of addresses in profit, represents a positive and optimistic picture for the future of the cryptocurrency. This data is a clear indication of how Ethereum has been able to attract and maintain a broad base of investors who believe in its long-term value.
The support and resistance levels outlined by Baykuş also provide crucial information for those who wish to navigate the Ethereum markets with greater awareness.
With the continuous development of the Ethereum network and the expansion of applications based on its blockchain, the future looks promising, and investor confidence seems well-placed. However, as always in the cryptocurrency market, it is advisable to pay attention to price movements and technological developments, which can quickly change market dynamics.
