CryptoWatchMay2024

Explosive Growth Fuels Speculation
Investors who seized the opportunity to accumulate $KAITO below $1 are now witnessing extraordinary gains, as the token surges past $2.42 with a remarkable 41.87% increase in the last 24 hours. After touching a daily high of $2.60, some resistance has emerged, leaving traders debating whether this is a strong breakout or a temporary pause before the next leg up.

Key Levels to Monitor

Resistance: The $2.60 mark stands as a crucial barrier—breaking above it could trigger a rally towards $2.70 and beyond.

Support: A key level at $2.35 serves as the immediate safety net, with further downside potential leading to $2.21, where buyers may look to re-enter.

Trading Scenarios & Market Sentiment

Bullish Case: Maintaining support above $2.35 could strengthen momentum, paving the way for a move toward $2.55 and $2.70 in the near term.

Bearish Case: A dip below $2.35 may signal increased selling pressure, potentially driving the price down to $2.21, a zone where demand could resurface.

Indicators & Final Thoughts

Technical analysis suggests a bullish bias, though momentum appears to be slowing. The MACD indicator supports continued upward movement, but order book data shows a growing presence of sellers, with 56.51% sell pressure compared to 43.49% buy orders. As $KAITO hovers at a pivotal price zone, the coming sessions will determine whether it sustains its bullish momentum .

A large holder of Ether, $ETH who participated in the initial coin offering (ICO) of Ethereum in 2015, moved part of their assets after 9.4 years of inactivity, representatives of the Lookonchain service reported. Lookonchain analysts wrote on X that the crypto whale transferred 0.01 ETH to an unknown address. Considering that ETH is currently trading at around $3394, this transaction cost $33.94. In total, the whale moved 1042.22 ETH worth $3.53 million to various cryptocurrency addresses. On the address of the anonymous Ether holder, 897.77 coins remain, valued at $3.04 million. These were the first transactions made from the address since its owner received 1940 ETH during the Ethereum ICO. According to Lookonchain, those ethers were valued at $601 at that time. Nearly ten years later, their value soared to an astonishing $6.56 million. The sudden awakening of the dormant address raised speculation that its owner might have regained access to the wallet by finding a lost private key. Meanwhile, the movement of 'sleeping ethers' is not an isolated case. According to SpotOnChain, on December 25, another 'Ether whale' transferred 4160 ETH worth $14.5 million to $BTC $DOGE the cryptocurrency exchange Kraken. During the ICO nine years ago, they received 20,000 ETH, and since September 2024, they have moved over 5,000 ETH at local peaks. This year, major cryptocurrency holders who had not been active for many years also moved other coins. In July, 1,000 bitcoins were transferred from a cryptocurrency address that had been inactive for 11 years and 9 months to another address.#BtcNewHolder #2024To2025 #Ethereum #CryptoWatchMay2024 #BtcNewHolder