- Lookonchain revealed that an ETH ICO participant transacted for the first time in 8.2 years.
- The post revealed that 2,000 ETH was sent to 4 addresses earlier today.
- At press time, ETH’s price was up 1.41% and stood at $1,604.28 as a result.
Lookonchain revealed in an X post earlier today that an Ethereum (ETH) ICO participant initiated a transfer for the first time in 8.2 years. According to the post, the wallet transferred 2,000 ETH, currently valued at $3.2 million, to 4 addresses over the past hour.
This particular address received 2,000 ETH during Ethereum’s Genesis, noted Lookonchain. The on-chain tracking platform also revealed that the value of these ETH tokens was around $620 when the wallet received them.
At press time, CoinMarketCap data indicated that the leading altcoin was changing hands at $1,604.28. This was after the cryptocurrency recorded a 1.41% increase in its price over the past 24 hours.
Meanwhile, ETH was able to reach a peak of $1,628.61 during the past day of trading. Since then, it has pulled back to trade at its current price. Nevertheless, the altcoin was still trading closer to its 24-hour high than its daily low, which was situated at $1,584.42.
From a technical perspective, ETH overcame the $1,555 resistance level over the past 72 hours. As a result, the cryptocurrency’s price could attempt a challenge at the next threshold at $1,645 soon. If ETH is able to break above this level in the next few days, then its value may continue to climb to $1,755 in the following week.
On the other hand, a break below $1,555 could be identified as a sell signal by traders. Consequently, the cryptocurrency’s price may test the $1,460 support level in the short term.
Traders and investors will want to note that a significant bullish technical flag was recently triggered on ETH’s daily chart. Throughout the past 24 hours, the MACD line crossed above the MACD Signal line. This suggests that ETH’s positive trend may continue in the next 24-48 hours.
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