Ethereum (ETH) poised for price surges as another dormant whale awakes after 8 years
29.05.2023 12:08
Ethereum (ETH) poised for price surges as another dormant whale awakes after 8 years
Invezz.com – (ETH), the second-largest crypto by market cap, gained around 3% over the past day to climb above $1,900 on Monday. The altcoin follows Bitcoin‘s moves. Invezz.com news revealed that renewed its upward momentum after the debt ceiling tentative deal.
Ethereum sees increased optimism after an inactive whale address transferred ETH tokens over the weekend, breaking its nearly eight-year dormancy.
Meantime, crypto analysts believe Ether can soar toward the $2,000 value area, where it may encounter a challenging hurdle. The altcoin formed solid support at $1,786 – $1,839 (3.54M addresses purchased 8.85M Ether at this region).
Buyers should prepare for the massive resistance at $2,063 – $2,120 (823,540 wallets bought 24M Ether at this value area). Meanwhile, Ethereum has trailed Bitcoin’s movements since January 2023. The alt has gained 60% since the year started.
