Ethereum Whale Adds 4,500 ETH in OTC Transaction

A significant transaction has been recorded in the Ethereum blockchain, as whale 0x8c58 added another 4,500 ETH to its holdings through an over-the-counter (OTC) buy. This purchase comes after an initial acquisition of 37,000 ETH at an average price of $1,922, which now shows more than $30 million in unrealized gains.

The total amount invested by whale 0x8c58 now stands at 41,500 ETH, with a significant increase in its overall value. The ETH price action on the 4-hour chart is currently trading within the Bollinger Bands, with an upper resistance level of $2803.62 and support levels anchored by the EMA50 ($2599.35) and EMA200 ($2407.23).

The Moving Average Convergence Divergence (MACD) has indicated a golden cross at 54.62, supporting the continuation of a bullish structure. However, the Relative Strength Index (RSI) is currently at 66.2, leaving room for a measured pullback toward the 50-EMA support before the next leg higher.