Blockchain tracking firm, Glassnode Alerts, has reported that the amount of Ethereum (ETH) supply last active between 3-5 years has reached a three-month high of 12,726,298.738 ETH. This surpasses the previous three-month high of 12,673,320.712 observed on January 16, 2023. The news comes as the price of ETH stands at $2,096.12 at press time, with a 24-hour gain of 0.32% and a weekly gain of over 14%.
ETH has also strengthened against market leader Bitcoin (BTC) by 0.66% over the last 24 hours, with one ETH estimated to be worth around 0.06913 BTC at press time. The altcoin’s price is currently trading between its 24-hour low of $2,076.83 and its daily high of $2,111.08.
ETH’s daily chart shows a bullish ascending triangle chart pattern, which was validated over the past week. This resulted in ETH’s price breaking through the key resistance level at around $1,920 on Thursday. The bullish momentum continued on Friday, with ETH’s price successfully flipping the resistance level at $2,015 into support to reach a high of $2,128.76 before a pullback to close Friday’s trading session off at $2,099.99.
ETH’s price is currently looking to challenge the resistance level at $2,170. However, technical indicators on ETH’s daily chart suggest that the crypto’s price has established a peak, which is evident by the vertex seen on ETH’s daily RSI chart.
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