Ethereum Whale Withdraws $57M from Coinbase Prime Amid Bullish Market Conditions

A large Ethereum whale has withdrawn $57.21 million in ETH from Coinbase Prime, sparking interest in on-chain activity and potential price implications.

The whale accumulated and transferred 30,000 ETH to three new wallets tracked by Nansen data, a significant move that could influence the broader market.

The current ETH price sits at $1,918.5, above both the EMA50 support at $1,893.15 and the EMA200 at $1,838.18.

The 4-hour structure favors continuation, but a test of upper Bollinger resistance at $1,938.47 could trigger a healthy retracement to the 50-EMA before the next leg higher.