$180M worth of PlusToken’s ether is currently on the move, as ETH/USD consolidates in the lower half of the 20-day Bollinger Band

• 789,534 ETH has recently been moved from a wallet belonging to the PlusToken scam. 
• The funds have been split between 52 Ethereum addresses.
• So far, none of the ether has made it to exchanges. 
• ETH/USD has had three straight bearish days.

789,534 ETH (~$180 million) was recently moved from a previously dormant wallet belonging to the PlusToken scam. The infamous Ponzi scheme was active between 2018 and 2019. The perpetrators stole over $3 billion from naive investors during this period.

Back in December 2019, the 789,543 ETH was transferred from a wallet marked “PlusToken1” to another marked “PlusToken2.” The funds recently moved for the first time in over six months and have been split between 52 addresses. The addresses are unmarked on the Etherscan block explorer and it is not clear if they belong to an Exchange or some other entity.

The transactions are still pending at the moment and their ETH values range from between 109 ETH and 8,758 ETH. So far, none of the ether has made it to exchanges. However, that could soon change, depending on the destinations of the transactions.

ETH/USD daily chart

ETH/USD dropped from $234.53 to $233.85 this Friday as the price consolidates in the lower half of the 20-day Bollinger band. The price is currently sandwiched between the SMA 20 and SMA 50 curves. The Elliott Oscillator has had four straight green sessions, while William’s %R is trending around the neutral zone.

Support and Resistance

ETH/USD has strong resistance levels at $237(SMA 20), $238.25 and $248.30. On the downside, healthy support levels lie at $231.70, $227.20 and $223.15 (SMA 50). 

Key levels