Ethereum is gaining attention after an early investor, who had been inactive for many years, made a big move in the market. Experts are noticing signs that ETH could shift against Bitcoin, which might open up new growth opportunities. Investors are watching events and updates to gauge Ethereum’s next price moves.
At the time of writing, Ethereum (ETH) is trading at $4,290 with a 24-hour trading volume of $45.19 billion and a market capitalization of $515.90 billion. Over the past 24 hours, ETH has seen a slight dip of 0.47%.
The Lookonchain data showed a remarkable movement in the ETH space. One of the earliest participants of the ETH ICO, who acquired 1,000,000 ETH seven years ago, has now made a transaction after remaining dormant for years. The investor has transferred 150,000 ETH, worth $645 million, to a staking account on a brand-new wallet.
The investor put in just $310,000 across three wallets during the ICO. Now it is worth a whopping $4.3 billion. Having invested 150,000 ETH, he still has 105,000 ETH left, worth $451.5 million, spread across two wallets.
A well-known crypto analyst, BATMAN, highlighted that Ether is on the brink of a potential move against Bitcoin (BTC). The ETH/BTC chart is currently trading at a significant support level, and the Stochastic indicator shows a hidden divergence and has formed a golden cross.
Investors are eagerly awaiting today’s release of the Non-Farm Payroll (NFP), which could cause significant price movement in ETH.
Also Read | Can Ethereum Break to $5,000 or Fall Back Toward $3,800?
The weekly Ethereum chart shows the RSI at 64.81 (signal line 61.72), slightly below overbought levels. Traders remain bullish, though momentum may be fading, suggesting a short-term consolidation. As long as RSI stays above 60, buying interest could continue.
Watching the MACD, the main line is 515.30 and the signal line is 320.92, giving a positive spread of 194.37. Such a wide spread indicates strong bullish pressure despite the recent price pullback. However, the histogram is declining, suggesting upward momentum may weaken, potentially leading to sideways or corrective movement in the coming weeks.
Also Read | Ethereum Price Pullback Signals Caution As Validator Activity Reaches New High
Also read: Coinbase Dumps 83% XRP; Reserves Down From 60 To 10 Wallets
