Ethereum has surpassed the $4,600 price threshold, driven by the reactivation of a long-dormant Genesis-era wallet and strong technical signals reflecting positive market sentiment.
A decade-old wallet, inactive since Ethereum’s 2015 genesis block, transferred 1 ETH originally purchased for approximately $310. The coins, now valued at over $2.44 million, exemplify significant gains for early investors amidst the current price surge.
Market analysts attribute Ethereum’s rally to heightened activity among long-term holders and favorable technical indicators, including robust Relative Strength Index (RSI) readings and supportive moving averages. Historical patterns show Ethereum follows 3-4 year bull cycles, with previous peaks occurring in 2017 and 2021.
Growing regulatory clarity and accelerating institutional adoption have further bolstered Ethereum’s upward momentum, strengthening investor confidence in the asset’s long-term viability.
Bullish sentiment prevails across cryptocurrency markets, with minimal resistance expected beyond the $4,600 level as technical and fundamental factors continue to align.