Ethereum Whales Move as Analysts Watch the $3,000 Target

• An Ethereum ICO wallet deposited 0.1 ETH to Coinbase after 11 years, while its remaining 1,999.9 ETH is worth about $3.83 million.
• Another whale sold 7,323 ETH worth $13.96 million after holding the tokens for more than three years, according to Lookonchain.
• Ali Charts identified bullish monthly and on-chain signals, with $3,000 emerging as a key Ethereum resistance level to watch.

Ethereum whales are moving large amounts of ETH as analysts track a possible move toward $3,000. Lookonchain reported activity from two wallets, including an ICO participant who deposited 0.1 ETH after 11 years. Meanwhile, Ali Charts pointed to monthly and on-chain indicators supporting higher ETH prices as wallet movements add fresh attention to Ethereum market activity.

Ethereum ICO Wallet Moves After 11 Years

Lookonchain identified wallet 0x6A53 as an early Ethereum ICO participant. The wallet invested $620 and received 2,000 ETH through the ICO. After remaining dormant for 11 years, the wallet deposited 0.1 ETH to Coinbase. 

Lookonchain valued the ICO allocation at about $3.83 million. The reported value represents a 6,184-fold return on the original $620 investment. However, the transfer involved only 0.1 ETH. Another wallet also moved ETH after a lengthy holding period. Lookonchain said whale 0x7C5a sold 7,323 ETH worth $13.96 million.

Whale Sells ETH After Years of Holding

The whale bought ETH at an average price of $2,723 during February 2022 and March 2023. It later staked the tokens before selling them. Lookonchain said the wallet's total losses now exceed $19 million. 

The sale came after more than three years of holding ETH. Meanwhile, Ali Charts focused on Ethereum's technical and on-chain data. The analyst reported two monthly TD Sequential buy signals from the previous month.

Analysts Track $3,000 Resistance

Ali Charts said Ethereum's monthly chart produced a black 9 and an S13 buy signal. The analyst cited signals from April 2022, September 2022 and April 2025. Those signals preceded ETH moves of negative 75%, positive 236% and positive 258%, respectively. 

Ali Charts said another validation could support a move toward $3,000. The analyst also said ETH turned bullish after breaking above its MVRV 0.8 Pricing Band at $1,800. That threshold has preceded moves toward Ethereum's Realized Price, currently near $2,300.

Additionally, Ethereum formed an MVRV Momentum golden cross, according to Ali Charts. Previous signals preceded rallies of 50%, 166%, 74% and 113%. Ali Charts identified $3,000 as the key level to watch. On-chain data shows more than 10 million ETH previously exchanged around that price.

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