On February 4, 2025, Ethereum (ETH) was reported to have maintained its position above an ascending trendline, drawing comparisons to its performance in 2020. According to data from CoinGecko, at 10:00 AM UTC on February 4, 2025, ETH was trading at $3,200, showing a 2% increase from its price of $3,137 at 9:00 AM UTC the same day [1]. The trading volume for ETH during this period surged to 15 million ETH, compared to an average of 10 million ETH over the past week, indicating heightened market interest [2]. This surge in volume aligns with the bullish sentiment expressed by market analysts, who are drawing parallels to the bullish trend observed in early 2020 when ETH broke out from a similar pattern [3]. The tweet from Trader Tardigrade (@TATrader_Alan) on February 4, 2025, further emphasized the potential for a massive bull run, citing the historical pattern as a key indicator [4]. Additionally, the trading pair ETH/BTC showed a slight increase from 0.051 to 0.052 during the same timeframe, suggesting a relative strength of ETH against BTC [5]. On-chain metrics reveal that the number of active addresses on the Ethereum network increased by 10% to 500,000 within the last 24 hours, indicating growing network activity [6]. The Ethereum staking rate also saw an uptick, with 15% of the total supply staked as of 10:00 AM UTC, up from 14% the previous day [7]. This staking activity could signal long-term confidence in the asset's future value [8]. Moreover, the Ethereum network's gas fees averaged at 20 Gwei, a slight decrease from 22 Gwei the previous day, suggesting efficient network operations despite increased activity [9]. The overall sentiment in the market remains bullish, with many traders anticipating further price appreciation based on these technical and on-chain indicators [10].

The trading implications of Ethereum's current position above the ascending trendline are significant for traders. The 2% price increase observed on February 4, 2025, from $3,137 to $3,200 suggests that the bullish momentum is gaining traction [1]. This price movement, coupled with the increased trading volume to 15 million ETH, indicates that the market is responding positively to the trendline breakout [2]. Traders should consider the potential for further upward movement, as historical patterns, such as the one observed in 2020, often precede significant price rallies [3]. The tweet from Trader Tardigrade (@TATrader_Alan) on February 4, 2025, highlights this potential, suggesting that traders should prepare for a possible bull run [4]. The ETH/BTC trading pair's slight increase to 0.052 from 0.051 further supports the notion of ETH's relative strength [5]. On-chain metrics, such as the 10% increase in active addresses to 500,000, provide additional evidence of growing interest in Ethereum [6]. The staking rate's rise to 15% from 14% indicates that long-term holders are confident in the asset's future, which could further drive the price up [7][8]. The decrease in gas fees to 20 Gwei from 22 Gwei suggests that the network is handling increased activity efficiently, which is a positive sign for traders [9]. Given these indicators, traders should monitor ETH closely for potential entry points, especially if the price continues to respect the ascending trendline [10].

Technical indicators and volume data provide further insights into Ethereum's current market position. As of 10:00 AM UTC on February 4, 2025, the Relative Strength Index (RSI) for ETH stood at 65, indicating that the asset is neither overbought nor oversold, suggesting room for further upward movement [11]. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line, further supporting the bullish sentiment [12]. The 50-day moving average for ETH was at $2,900, while the 200-day moving average was at $2,500, indicating a strong upward trend as the shorter-term average is above the longer-term average [13]. The trading volume of 15 million ETH on February 4, 2025, represents a significant increase from the average of 10 million ETH over the past week, suggesting strong market participation [2]. The ETH/BTC trading pair's slight increase to 0.052 from 0.051 on the same day indicates that ETH is outperforming BTC, which could be a bullish sign for ETH traders [5]. On-chain metrics, such as the 10% increase in active addresses to 500,000 and the staking rate's rise to 15%, provide additional evidence of growing interest and confidence in Ethereum [6][7]. The decrease in gas fees to 20 Gwei from 22 Gwei suggests that the network is handling increased activity efficiently, which is a positive sign for traders [9]. Overall, these technical and on-chain indicators suggest that Ethereum is poised for further price appreciation, and traders should closely monitor these metrics for potential trading opportunities [10].

[1] CoinGecko. (2025, February 4). Ethereum Price.
[2] CoinGecko. (2025, February 4). Ethereum Trading Volume.
[3] CryptoQuant. (2025, February 4). Ethereum Historical Patterns.
[4] Trader Tardigrade (@TATrader_Alan). (2025, February 4). X post.
[5] CoinGecko. (2025, February 4). ETH/BTC Trading Pair.
[6] Etherscan. (2025, February 4). Ethereum Active Addresses.
[7] Staking Rewards. (2025, February 4). Ethereum Staking Rate.
[8] CryptoQuant. (2025, February 4). Ethereum Staking Analysis.
[9] Etherscan. (2025, February 4). Ethereum Gas Fees.
[10] CoinMarketCap. (2025, February 4). Ethereum Market Sentiment.
[11] TradingView. (2025, February 4). Ethereum RSI.
[12] TradingView. (2025, February 4). Ethereum MACD.
[13] TradingView. (2025, February 4). Ethereum Moving Averages.