Hayes Sells 2,364 ETH for $4.3M in Swift Move

Arthur Hayes has sold 2,364 ETH for $4.3 million to Cumberland and Galaxy Digital after holding them for only half a month.

The sale at a $220,000 loss appears to be a swift move by Hayes, who had bought the ETH via OTC at an average price of $1,916 just over two weeks ago.

The price action on the 4h chart shows that Ethereum is currently trading inside its Bollinger Bands with upper resistance at $1943 and lower support at $1855. The EMA50 is capping upside at $1896.57, while the EMA200 provides a deeper floor at $1828.36.

The technical indicators are bearish, with a MACD death cross at -9.86 and an RSI of 39.6 indicating further downside before any potential bounce.