Ethereum Whale Offloads $19.5M from Kraken, Analysts Split on Price Direction

An Ethereum whale moved a substantial amount of ETH from Kraken in two transfers worth around $19.5 million over a 24-hour period.

The wallet, identified as 0x8447, withdrew 10,300 tokens from the exchange through two transactions on Monday and Tuesday, with a total value of roughly $9.98 million and $9.53 million respectively.

This move has sparked debate among analysts, with some expecting a breakout above the current resistance at $1,960.50 while others predict a dip to around $1,715.

Ted Pillows is targeting a price of $2,030 if Ethereum breaks above the mentioned resistance zone between $1,945 and $1,960. In contrast, Merlijn The Trader expects a downturn before any expansion phase begins, citing a June setup that led to a sharp bounce.