Ethereum Whale Unloads $253M in Massive Exchange Transfers

A mysterious Ethereum whale has been making waves in the crypto market by transferring a massive amount of ETH to multiple exchanges.

According to Lookonchain, this whale moved 103252 ETH ($253M) into various exchanges over the past three days. Despite this significant move, the whale still controls 64603 ETH ($155.8M).

The price action on the 4h chart shows Ethereum trading inside the Bollinger band with lower support at $2403.17. However, the EMA50 at $2431.01 acts as immediate resistance in a bearish structure confirmed by the MACD death cross at -8.2.

The Relative Strength Index (RSI) is currently at 39.15, indicating that the setup favors a test of the EMA200 support at $2194.07 before any sustained recovery. This suggests that Ethereum's price may face significant challenges in the near term amid broader crypto market crash concerns.