ETH Whale Pulls $24M from Binance Amid Sustained Institutional Bids

A significant ETH withdrawal has been flagged by Lookonchain, as wallet 0x4876 pulled 9132 tokens from Binance over three hours. This move amounts to a substantial $24.37 million and aligns with sustained institutional bids seen in the past six months.

The current price of Ethereum sits at $2696.01 within the Bollinger band, with an upper resistance at $2720.79. Anchoring the bullish structure are the 50-EMA at $2669.94 and 200-EMA at $2506.1.

With price testing the upper Bollinger resistance while the Relative Strength Index (RSI) remains mid-range, a healthy retracement toward the 50-EMA support appears probable before continuation. The Moving Average Convergence Divergence (MACD) has printed a death cross at -2.29.