#ETHUSDTTrading view
Reflecting BTC price consolidation, ETH price witnessed overall supply at $3030. This consolidation can be marked by the highs and lows of $3030 and $2875 from the daily candle on February 20.
Short-term and high-wick candles may reflect an uncertain sentiment, but eth seems to have a different outlook. In a recent highlight from on-chain data tracker 'Lookonchain', a wallet believed to be associated with Justin Sun was seen making significant purchases of ETH on cryptocurrency exchange Binance. The latest transaction involved the purchase of 18,616 ETH worth approximately $54.57 million.
This follows a series of purchases across Binance and various Decentralized Exchanges (DEX) over 12 days, totaling 151,196 ETH worth approximately $435.3 million at an average price of $2,879 per ETH.
Thus, Ethereum price broke above the general resistance of $3030, signaling that the recovery trend continues. The post-breakout rally took the asset to $3280, recording a 10% potential gain.
