Ethereum analysis for 18/12/2018

According to the data from Etherscan, the number of unique addresses of the Ethereum portfolio exceeded the threshold of 50 million.

On Saturday, the Ethereum network recorded a daily increase of 168,506 unique cryptographic portfolios, following a steady upward trend this year. The highest historic daily increase in the unique addresses of Ethereum took place on January 4, 2018, thanks to 352,888 newly created addresses in this network.

Although the growth graph for unique addresses indicates the number of existing cryptographic portfolios, there is also an index indicating the number of active addresses, which represents an amount of unique addresses carrying out transactions on a given day.

Referring to the data from BitInfoCharts, the number of active Ethereum addresses in 2018 is constantly decreasing. After reaching a peak of around 1.1 million on January 4, 2018, their number fell below one million in mid-January and by about 70% during the year to 32,400 addresses registered on December 16.

Let's now take a look at the ETH/USD technical picture at the H4 time frame. After a short rally, the market is still trading below the level of 93.60 - 94.41 which is the technical resistance for the bulls. The market conditions are becoming overbought, but the momentum remains strong and positive. The nearest technical support is seen at the level of 85.97.


The material has been provided by InstaForex Company -