Recently, there have been notable fund transfers among major Ethereum holders, which correlate with the potential price rise of the cryptocurrency.
Ethereum Whales Shifting Large Amounts
Major holders of Ethereum transferred significant sums to the Kraken platform as market charts indicated the possibility of a substantial price rise to $15,000. Two of the largest wallets, which received Ethereum since the ICO, moved thousands of ETH, totaling millions of dollars.
Selling Strategy of Early ICO Participants
One ICO participant sent 2,300 ETH, worth $9.91 million, to Kraken after a long period of gradual selling. The original wallet held 20,000 ETH purchased for $6,200 during the 2014 ICO. It now retains 1,623 ETH valued at nearly $7 million, indicating a long-term liquidation strategy.
Technical Analysis and $15K Target
Ethereum's price broke above a symmetrical triangle pattern, which has been forming since 2021. According to technical projections, this breakout signals potential upside towards $15,000. Analysts calculated a 372% potential gain from the breakout point using the pattern's height method.
The movements of major Ethereum holders and technical signals indicate a possible market shift towards new peaks. Sustaining this breakout could lead to the next phase of price growth and changes in supply dynamics on exchanges.
