- North Korea’s Lazarus Group offloaded 40.78 WBTC for $3.51M, securing a $2.51M profit after two years, dispersing funds into three wallets.
- Ethereum’s price remains compressed within a symmetrical triangle, testing a crucial five-year support amid strong historical consolidation.
- A breakout above Ethereum’s three-year resistance could fuel a rally, while a drop below the five-year support may signal extended losses.
According to Spot on Chain, the Lazarus Group, a notorious North Korean hacking organization, has recently moved a amount of Wrapped Bitcoin (WBTC). They sold 40.78 WBTC, worth $3.51 million, securing a massive $2.51 million profit. This transaction comes two years after they originally acquired the tokens.
The group spent 999,900 USDT in February 2023, buying WBTC at approximately $24,521 per coin. They later exchanged it for 1,857 ETH at an average price of $86,170. Shortly after, the hackers dispersed the funds across three separate wallets.
Ethereum’s Symmetrical Triangle Signals Market Tension
Ethereum’s price movements over the past few years have followed a well-defined symmetrical triangle pattern. This formation consists of two critical trendlines. The upper trendline represents a three-year descending resistance, while the lower trendline highlights a five-year ascending support level.
Ethereum experienced a massive surge before reaching its all-time high (ATH). Since then, there have been several price corrections and recoveries. At critical levels, the five-year upswing has continuously served as a solid support zone, drawing buyers. The recent retest of this level by Ethereum is significant since it coincides with previous consolidation zones.
Market Structure and Future Pri ce Direction
The three-year descending trendline has served as a formidable resistance. Ethereum has tested this level multiple times, showing a strong supply zone where sellers dominate. Price movements remain compressed within this symmetrical triangle, indicating a build-up for a potential breakout.
Moreover, historical data showcases Ethereum’s accumulation and distribution phases. The five-year uptrend has supported investor interest, reinforcing confidence in Ethereum’s long-term bullish case. The rectangular gray zone on the chart marks a historically support region. This area has played a critical role in Ethereum’s structural integrity.
Ethereum is currently trading close to the triangle’s lowest edge. The level is therefore essential for the market’s upcoming significant movement. While a breach below the five-year support could result in prolonged losses, a breakout above the three-year resistance could start a positive rally.
