Ethereum Trader's Aggressive Swing Trading Leaves Wallet Down $414K

A wallet tracked by Lookonchain has been involved in some aggressive Ethereum trading, buying and selling large amounts of ETH in short periods.

The wallet bought back 1,674 $ETH worth $3.19 million at a price of $1,906, repeating a sell-low buy-high pattern that it has employed before.

This time around, the wallet shed 217 ETH ($414K) over two months, suggesting a volatile trading strategy.

The current price of Ethereum sits at $1906.49 on the four-hour chart, with the EMA50 and EMA200 acting as support levels due to their relatively high positions compared to the current price.

A golden cross has also formed on the MACD indicator, a sign that momentum is shifting in favor of buyers.