Ethereum (ETH) has seen a significant rise in activity on its network, coinciding with breaching a technical resistance level that has been limiting its gains over the past two weeks, reinforcing expectations of a new bullish wave.

Analytical data published by the expert from the "CryptoQuant" platform, Carmelo Aleman, revealed that the number of active addresses on the Ethereum network rose by nearly 10% during the period from April 20 to April 22, climbing from around 306,000 to over 336,000 addresses. This rise is seen as a sign of renewed interest from users and investors, especially amid supportive price movements.

After a period of volatility within a narrow range, ETH successfully surpassed the resistance level of $1,650, driven by strong buying momentum that led to breaking the technical barrier and rising above $1,790, marking an exit from the stagnation that prevailed since the middle of this month.

Conversely, the Moving Average Convergence Divergence (MACD) shows preliminary signals for a trend reversal to the rise, while the Stochastic RSI indicator approaches its peak, which may indicate a possibility of a temporary pullback unless the buying momentum renews.