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Crypto

Gnomelabs.eth Deploys 4020 ETH to Bitget Amid Ethereum Price Consolidation

Guavy AI Editorial Team
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Gnomelabs.eth has made a significant move in the crypto market by depositing 4020 ETH worth $9.97 million to Bitget, sparking suspicions of profit taking on an August 17 position opened at an average price of $1896.83 from Binance.

The deposit marks a 30.7% return and an estimated gain of $2.345 million, indicating that the whale investor may be locking in profits before potential future losses.

Ethereum's price action is currently testing its upper Bollinger resistance at $2537.8, while the MACD holds its golden cross at 14.85 and the RSI sits neutral at 63.32, suggesting a period of healthy consolidation towards EMA50 support at $2461.18.

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