An early Ethereum wallet awakens after 10 years as ETH trades above $4,600, signaling renewed long-term holder activity.
Ethereum forms a strong uptrend with RSI near bottom range and bullish moving averages, pointing to sustained market momentum.
With institutional demand rising and resistance levels fading, Ethereum continues price discovery beyond previous highs above $4,600.
As per cointelegraph on X, an early Ethereum (ETH) initial coin offering (ICO) participant has reawakened after a decade of dormancy, moving 1 ETH from a wallet originally holding 1,000 ETH. This ETH was purchased during Ethereum’s Genesis block for just $310 and is now valued at over $2.44 million. This move coincides with Ethereum’s ongoing rally, with current prices exceeding $4,600. Historical price analysis, with rising investor activity, points to technical momentum and renewed market interest.
Ethereum’s trading chart from 2017 to 2025 shows multi-year price expansion. In 2017, ETH surged from under $20 to about $1,400. This became one of crypto’s most iconic bull runs. However, 2018 reversed those gains. Prices dropped sharply, bottoming under $200 by year-end.
Source: Chris
Between 2019 and 2020, Ethereum consolidated between $100 and $500. This phase showed limited volatility compared to past trends. Moreover, the market sentiment appeared neutral, awaiting a breakout signal. By late 2020, accumulation intensified. Consequently, the 2021 bull run saw ETH skyrocket to over $4,000. This rally surpassed the previous all-time high set in 2018.
Technical Indicators Show Strong Uptrend
Currently, Ethereum trades around $2,500 with bullish indicators in play. Additionally, the Relative Strength Index (RSI) shows moderate levels. This suggests room for more upside before overbought conditions emerge. Besides, the moving averages reflect a strong bullish setup. Shorter-term averages stay above long-term ones. This pattern typically supports sustained upward momentum.
Moreover, the chart indicates repeating accumulation and distribution cycles every three to four years. These cycles mirror broader crypto market patterns. Historical buy signals have emerged during RSI lows, producing strong returns. Currently, the RSI remains near the bottom range. Hence, analysts believe the bull market may just be starting.
Bullish Sentiment Grows Amid Regulatory Clarity
Besides historical patterns, institutional adoption and improving regulatory clarity continue to fuel Ethereum’s rally. Price discovery now occurs above previous highs. Significantly, minimal resistance exists beyond $4,600. Market structure supports further gains. Trading volume remains strong, reinforcing upward pressure.
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