Crypto
Ethereum Whale Dumps 6,503 ETH for $10M Loss
An Ethereum (ETH) whale has made a significant move by selling 6,503 ETH on Binance, resulting in a realized loss exceeding $10 million.
The entity behind this whale deposited the coins into Binance two hours ago. The sale is tied to positions opened in early 2024 at prices of $3,219.35 and $2,523.43.
Despite the recent sale, the price action on ETH's 4-hour chart remains bullish. It is trading within its Bollinger Bands at $2,460.56, with upper resistance at $2,504.73 and lower support at $2,425.58.
The Moving Averages (50-EMA) and (200-EMA) also provide a bullish structure, anchored at $2,339.01 and $2,065.75 respectively. However, the MACD death cross at 31.63 suggests that the trend may be weakening.