- Prominent investor acquires 4,833 ETH with an average purchase price of $2,004.50.
- Ethereum’s daily trading volume surges by 116% to $13,031,465,236.
- ETH surpasses resistance levels at $1,934 and $1,970, solidifying bullish sentiment.
Lookonchain, a prominent blockchain tracking firm, recently shared a tweet disclosing a noteworthy acquisition of Ethereum (ETH) by a prominent whale within the crypto space. The report highlights that this individual invested 9.7 million Dai (DAI) in the past 24 hours to procure 4,833 ETH, with an average purchase price of $2,004.50.
According to the firm, this individual has executed several significant ETH transactions. In January of this year, the individual sold 7,500 ETH following a surge in the price of the leading altcoin. Subsequently, in March, they acquired 9,691 ETH when USD Coin (USDC) decoupled from the US Dollar. Lastly, the individual sold 5,190 ETH before its price decline on June 7, 2023.
The recent acquisition made by the prominent investor indicates their expectation of a substantial price movement for the leading alternative cryptocurrency shortly. Currently, the cryptocurrency is trading just above the significant psychological threshold of $2,000, specifically at $2,000.48, as reported by CoinMarketCap. This follows a noteworthy 24-hour increase of 6.78% in the cryptocurrency’s value.
Ethereum (ETH) experienced a remarkable surge in its daily trading volume in the crypto industry, soaring by an impressive 116% during the most recent trading session. Consequently, the total trading volume reached an impressive figure of around $13,031,465,236 at the reporting time.
From a technical standpoint, Ethereum (ETH) has demonstrated a consistent pattern of achieving higher and lower highs in recent weeks. This positive momentum has persisted over the past 48 hours, resulting in ETH surpassing crucial resistance levels at $1,934 and $1,970. Notably, these levels have now transformed into support levels, further solidifying the bullish sentiment surrounding ETH.
A slight decline in ETH’s price may occur within the next 24 hours as investors and traders might consider capitalizing on the recent surge. In such a scenario, ETH could reach the mentioned level of $1,970 within the next 24-48 hours.
In the event of a significant increase in buying activity for ETH shortly, ETH will likely make an upward move towards the key resistance level of $2,050. However, it is important to note that this optimistic scenario would be invalid if ETH experiences a decline below the critical support level of $1,970 within the next 48 hours.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
