Amid a general crypto market uptrend, Ethereum (ETH) has registered a significant price gain over the past months. Since Bitcoin embarked on a market rebound in early April, ETH has followed suit, with its trading price increasing by over 80%. In more bullish developments, popular crypto analyst Burak Kesmeci has noted a positive on-chain event that signals a further price appreciation ahead.
Ethereum SOPR Holds Above 1 – What Does This Mean?
In an X post on May 24, Kesmeci provides a bullish Ethereum price prediction based on the asset’s Spent Output Profit Ratio (SOPR), which currently signals a positive investor sentiment. The SOPR is calculated by dividing the selling price of tokens by their acquisition price. A value above 1 indicates that the ETH being sold is, on average, in profit, while a value below 1 suggests that investors are realizing losses.
Therefore, a sustained movement above this threshold signals strong market confidence that can induce significant bullish price developments. This is particularly relevant as Ethereum sellers are operating from a position of strength, with no pressure typical of a declining market.
Burak Kesmeci notes that Ethereum’s SOPR has continuously fluctuated around the neutral 1.0 mark in 2025, reflecting a period of market uncertainty. However, following the reignition of the crypto bull market, this on-chain metric has achieved consistent positioning above 1.0, indicating a shift in market dynamics.
Importantly, Kesmeci states that this development indicates Ethereum’s recent uptrend is “healthy and sustainable.” This can be attributed to the fact that investors are distributing their tokens at higher prices, enabling the market to witness strategic profit-taking rather than panic selling.
Currently, Ethereum’s SOPR stands at 1.02. If investor activity can maintain or increase this value, Kesmeci believes the prominent altcoin is likely to sustain an upward trajectory in the near future.
Ethereum Price Overview
At the time of writing, Ethereum is valued at $2,523 following a slight price decline of 0.60% in the past 24 hours. Meanwhile, the altcoin remains profitable on larger time frames with gains of 2.20% and 42.96% on the weekly and monthly time frames, respectively.
Currently, Ethereum faces its next major resistance at the $2,700 level, a price zone that has acted as a rejection point twice in the past three weeks. A decisive breakout above this resistance would reinforce the bullish momentum, providing additional bullish fuel for a potential retest of the $4,000 region, a critical price level in the current market cycle.
Featured image from iStock, chart from Tradingview.
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