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Unprecedented Move: Ethereum Whale Awakes After 8 Years

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by Giorgi Kostiuk

a year ago


A large Ethereum investor holding 12,001 ETH for almost 9 years has sprung into action, starting to sell amidst recent price increases.

Ethereum's Phenomenal Rise

The initial investment was valued at $103,000 at an average entry price of $8.58 per ETH. With Ethereum's price surge, this stash is now valued at $34.1 million, a potential 330x return. The whale's awakening aligns with major price actions, with Ethereum gaining 16.3% over the past month and 7.7% in the last 24 hours.

Potential for Further Growth

Despite the recent surge, Ethereum remains 42.1% below its all-time high of $4,878.26. However, analysts are identifying positive patterns for potential growth. Market analyst MadeByAK highlights the $2,840 resistance, where the daily order block and weekly fair value gap intersect.

#Ethereum just broke above $2700 and is nearing the $2,840—a major resistance where 1D OB and 1W FVG converge.

Technical Analysis and Predictions

Supporting this bullish perspective, analyst The Moon Carl noted that Ethereum continues trading within an ascending triangle. He suggests a potential move toward $3,350 in the next price surge.

#Ethereum has bounced from the Ascending Support, indicating it's still trading within this triangle! The next push could take it to $3,350.

The movement of such large holders usually signals potential market changes. Market participants are closely observing these moves as significant selling could affect Ethereum's price trajectory.

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