GMGN Stakes 11,999.5 ETH on Coinbase Reversing Sell Plan

GMGN has made a significant move in the crypto market by staking 11,999.5 ETH on a Coinbase Batch Staking address. This action reverses an earlier plan to sell the tokens, as the company had deposited $16.38 million worth of ETH on exchanges just one week prior.

The price of Ethereum (ETH) is currently showing a bullish trend on the 4-hour chart. The EMA50 at $2,695.09 acts as immediate support, while the EMA200 at $2,591.59 provides deeper support. The MACD indicates a golden cross at 5.56, suggesting a strong upward momentum.

ETH is testing the upper Bollinger resistance at $2,732.18, with the RSI remaining neutral at 53.91. The overall structure suggests a continuation of the upward trend after any pullback to the 50-EMA, potentially leading to fresh highs.