Hyperliquid Whale Closes Half of Large Ethereum Position

A prominent Ethereum whale known as 'Hyperliquid' has made a significant move by closing half of its long ETH position. The trader sold 60,000 ETH at an average price of $2,514, resulting in a realized profit of $14.88 million over four months.

The remaining 30,000 ETH is still held by the whale, which also continues to hold 3,000 BTC worth $235 million and 60,000 ETH worth $151 million. This leaves the trader with approximately $47.45 million in unrealized gains from its open positions.

According to technical analysis, Ethereum's price action on the 4-hour chart shows it trading at $2515.43 within the Bollinger Bands. The upper resistance is set at $2650.65, while the 50-EMA and 200-EMA act as layered support at $2123.02 and $1949.06 respectively.

A golden cross has been confirmed on the MACD indicator, signaling a potential healthy retracement toward the 50-EMA support at $2123.02 before any further continuation higher.