ETH Faces $250 Resistance While Number of New ETH Addresses Rises 7.3% Over Past 24 Hours

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Wed, 06/24/2020 - 08:38
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Yuri Molchan
As ETH approaches $250, the number of new ETH addresses has grown by almost 8 percent in the past 24 hours and a whale has moved 41,000 ETH to the Bitfinex exchange
ETH Faces $250 Resistance While Number of New ETH Addresses Rises 7.3% Over Past 24 Hours
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According to the data shared by Glassnode analytics agency, the number of ETH holders has surged by slightly over 7 percent over the past twenty-four hours.

Meanwhile, a gargantuan amount of 43,000 ETH has been moved as Ethereum is trying to test the $250 resistance area.

ETH is testing $250 level

The Amsterdam-based analyst Michael van de Poppe (also known as ‘Crypto Michael’) has noted the fact that ETH is testing is important $250 level on his Twitter page.

In his recent YouTube video on ETH, he stated that, at the moment, ETH is above the 100 MA and 200 MA levels.

If ETH manages to break through the $250 and then $286 resistance, he expects ETH to surge towards new highs. But if we lose the MAs, Crypto Michael says, then ETH may be testing lows soon.

ETH is testing this resistance level for the third time as the chart on the video shows with two previous tests happening in early 2019.

ETH
Image via YouTube

43,000 ETH moved over past 7 hours

Two major ETH transfers were recently noticed by Whale Alert. The first one carried 42,000 ETH ($10,431,893) slightly over an hour ago.

This crypto was moved by Bithumb in-house, Glassnode said.

The other transaction, seven hours ago, moved 41,000 ETH ($9,986,052) – this was moved by an anonymous user to the Bitfinex exchange.

ETH
Image via @whale_alert

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Number of new ETH wallets reaches a new ATH

As per Glassnode data, over the past twenty-four hours, the number of new ETH wallets has increased, rising 7.3 percent.

This equates to 4,223.944 new addresses.

Glassnode has also reported that the amount of ETH wallets with over 0.01 ETH has reached a new all-time high of 7,903,475.000 (one thousand more wallets, compared to the previous value also measured on June 24).

ETH glassnode
Image via @glassnodealerts
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.