Since hitting a low of $2,251 on 16th September, Ethereum (ETH) has been on an uptrend, trading at $2,641—a 14.50% increase over the past week. This rise follows a prior downtrend, with analysts attributing the recovery to increased active buyers and spot-limit bids.

According to ChainStatsPro, liquidation hunts in the futures market continue, but bids and asks accumulate at $2,400 and $2,790. This suggests traders are positioning to buy at $2,400 and sell at $2,790. Active addresses have hit 5 million, signaling heightened market activity and bullish sentiment.

Additionally, Ethereum's Chaikin Money Flow (CMF) is at 0.28, indicating strong buying pressure. A positive OI-weighted funding rate also reflects increased demand for long positions, further supporting the uptrend.