Ethereum is attracting increasing attention from crypto professionals due to Vitalik Buterin's activity and technical signals indicating potential growth.
Vitalik Buterin's Transactions
Ethereum co-founder Vitalik Buterin has transferred 274.1 ETH, valued at approximately $500,000, to a multisig wallet deployed by 0xisla, the developer behind Zuitzerland. This move came five days after he sent 250 ETH, worth around $456,000, to the privacy protocol Railgun. Buterin frequently expresses his support for privacy solutions, making these transfers likely donations or grants.
Ethereum's Hidden Bullish Divergence
According to crypto analyst Merlijn The Trader, a hidden bullish divergence has emerged on the weekly chart. It occurs when the price prints higher lows but the Relative Strength Index (RSI) prints lower lows. This divergence typically signals a continuation of the prevailing uptrend. After declining, Ethereum's price began forming higher lows, with the trend line still indicating upward movement.
Key Ethereum Price Levels and Market Sentiment
The Ethereum price has experienced significant fluctuations, opening at 1,808.11 USDT, reaching a high of 1,927.91 USDT before plunging to a low of 1,776.83 USDT and closing at 1,913.59 USDT. This resulted in a net price gain of 105.48 USDT or 5.83%. The RSI indicator remains near its lower range, often preceding stronger price movements as momentum catches up with price action.
Ethereum's price remains within a long-term uptrend despite short-term volatility. Investors closely monitor technical signals indicative of potential price rallies, with strategic fund transfers by Vitalik Buterin underscoring continued interest in the ecosystem's growth.
