Matrixport Whale Sees $123M Turnaround on ETH and BTC Holdings

A recent analysis by blockchain news source Lookonchain revealed that a Matrixport-linked whale has made an astonishing turnaround in their Ethereum (ETH) and Bitcoin (BTC) investments.

The whale, who was initially down $92.5 million, has now flipped to a profit of $11.5 million on their 120,000 ETH ($187 million) and 500 BTC ($29.33 million) longs held for four months.

According to the analysis, ETH is currently trading at $2364.86 within its Bollinger Bands, with bullish EMA50 support at $2019.32 and EMA200 at $1911.63. The RSI indicator is at 93.21, signaling overbought exhaustion near the upper band resistance of $2463.51.

Given this situation, a pullback to the 50-EMA is considered probable before continuation.