ETH Whale Withdraws $20.5M from Binance Amid Price Stability

A large ETH holder, identified as 'Whale' with address 0x96d, has made a significant withdrawal from Binance. The whale withdrew 7,500 ETH, valued at approximately $20.5 million at current prices.

The price of Ethereum currently sits at $2677.1, closely hugging the EMA50 support level at $2673.03. The broader bullish structure is anchored by the EMA200 at $2512.59. Technical indicators such as the MACD golden cross and RSI suggest continued momentum and room for further price growth before potential overbought conditions.

ETH's price action is currently confined within its Bollinger Bands, with an upper resistance level at $2730.27 awaiting a test. This on-chain outflow has led to some models predicting a supply shock catalyst amid the current macro setup.