Cryptonews Price Analysis

ETH Price Just Flipped Bullish – $3,000 Next as Network Activity Goes Parabolic?

Ethereum just flipped bullish with a breakout above its 21-day EMA — is a parabolic move toward $3,000 now on the table?

Author

Alejandro Arrieche

Author

Alejandro Arrieche

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

Author Profile

Last updated:

April 23, 2025

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

1745501869-eth-just-flipped-bullish-3000-next-as-network-activity-goes-parabolic

Ethereum (ETH) price surged 11% on Tuesday and another 2% on Thursday, holding strong around $1,744 despite a modest 3.4% dip in the past 24 hours as the crypto market pauses after a powerful rally.

Although the past four months have been quite bearish for ETH, technical indicators seem to be flashing buy signals and may anticipate the beginning of a bullish cycle.

On-chain data from Artemis indicates a significant spike in two key metrics. First, daily active addresses within the Ethereum network increased by 29.2% from April 20 to April 23 while the number of daily transactions processed by the blockchain jumped by 30% during this same period.

This has been one of the most significant rebounds in network activity in the past 30 days and it is especially relevant as it has been accompanied by a bullish signal in ETH’s daily price chart.

ETH Breaks Above 21-day EMA with Strong Volume

Tuesday’s rally pushed ETH above the 21-day exponential moving average (EMA).

Although this is not the first time the price action has tried to push the price above this area, it has been the only instance since December where such a move was accompanied by above-average trading volumes.

Yesterday’s ETH price uptick further confirmed its bullish breakout, though some intraday selling did emerge as traders locked in short-term gains.

Today’s pullback is no major surprise, as the broader market cools and investors take profits after several strong sessions.

ETH price now hovers around $1,744, with trading volume down 30% to $18.7 billion, suggesting the selling pressure lacks conviction and may be short-lived.

Momentum indicators continue to flash bullish signals — the RSI sits nearly 21% above the signal line, while the MACD histogram has now trended upward for 11 consecutive days.

That marks the longest positive MACD streak in over two years, while the RSI is at its highest level since January 2025 — both pointing to growing strength in the trend.

With momentum building, Ethereum could be setting up for a decisive push toward the $3,000 level in the coming weeks.

Meanwhile, other smart contract platforms like Solana (SOL) are also gaining ground, fueled by renewed interest in meme coins and network expansion.

Fueled by the resurgence of meme coins like Fartcoin (FART) and Bonk (BONK), Solana’s network activity is heating up fast.

To handle the growing demand, scaling solutions like Solaxy ($SOLX) are stepping in to ensure Solana stays fast, efficient, and congestion-free during peak traffic.

Solaxy (SOLX) Testnet Goes Live as Presale Nears Completion — Is This Solana’s Breakout Layer 2?

Solaxy (SOLX) is a layer-two scaling protocol for the Solana blockchain that bundles transactions offline to alleviate the mainnet’s burden.

During what has been one of the most successful crypto presales of the year, Solaxy has raised more than $30 million to deploy its scaling solution.

On April 15, the development team released an explorer feature for the Solaxy testnet so investors can see in real time how the L2 is performing.

$SOLX is the utility token that powers this blockchain protocol. As Solaxy is embraced by wallets and exchanges, the demand for its native asset will skyrocket.

To buy $SOLX at its discounted presale price, simply head to the Solaxy website and connect your wallet (e.g. Best Wallet).

You can either swap SOL, USDT, or ETH for this token or use a bank card to make your investment.