Ethereum’s Next Big Move? Short-Term Holders Are About to Make It Rain

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Okay, so Ethereum (ETH) decided to make a bit of a comeback at the end of April—crossing the magical $1,800 mark. After what felt like a never-ending hangover from the December 2024 crash, it looks like the altcoin might finally have its groove back. And guess what? Crypto analyst Burak Kesmeci is all about that positivity right now. Who knew?

Short-Term Holders Are The New Heroes (Kind of)

In a tweet on May 2, Burak Kesmeci put on his superhero cape and pointed out that Ethereum might be gearing up for a proper price party. Why? Well, short-term holders are about to hit a major milestone—crossing 4 million. And apparently, crossing this threshold historically means the start of a juicy price rally. Keep an eye out for those new market entrants who are probably hoping for quick profits, because when short-term holders rise, so does the market… usually.

For those not keeping track, short-term holders are basically people who just bought ETH (less than 155 days ago), and they’re often just here for the thrill of the chase—if the price goes up, they’re out. But if these numbers go up, it’s an indication that people are finally interested again. When they break the 4 million mark, history says ETH might just start rocketing. We’ve seen it in 2022 and 2024. So, let’s see what happens, right?

However, Kesmeci’s keeping it real—if the number of short-term holders stays below 4 million, ETH might be stuck in a sort of ‘meh’ phase. Not enough people are buying in for a proper rally. Sorry, folks, we need more believers.

Meanwhile, long-term holders (the ones who aren’t just in this for a quick thrill) now sit pretty at 104.24 million. That’s a serious vote of confidence in ETH’s future, though it seems like these folks are here for the long haul, letting their coins mature rather than flipping them for a fast profit.

But Wait—The 365-Day Moving Average Still Doesn’t Like Us

And here’s the plot twist: despite all the hype, Ethereum still can’t break through its 365-day simple moving average (SMA 365), sitting pretty at $2,849. This little barrier is like the bouncer at a nightclub telling ETH, “Not tonight, sweetie.” As much as we want to believe in this rally, Ethereum needs to conquer that moving average to signal that bulls are in full control. And right now? It’s still a party with a cover charge.

Ethereum’s sitting at $1,835, and yeah, it’s down 0.80% in the last 24 hours. So, we’re not there yet. And let’s not forget, the trading volume has dropped by 15.01%—because who doesn’t love a little drama in the market?

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2025-05-04 04:17