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Smart Money Wallet Resumes ETH Accumulation After $3.66M Profit

Guavy AI Editorial Team
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ETH BNB USDC
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A prominent Ethereum wallet known for its 'smart money' trading strategies has resumed accumulating ETH. The wallet, identified as 0x4cee611502f378300981807d506629DA35cee4a7, made a significant move by depositing $20 million in USDC to Binance and then withdrawing approximately 7567 ETH at around $2643 per coin.

This withdrawal comes after the wallet reportedly generated a substantial profit of $3.66 million from August trades. The wallet's actions have been closely monitored, as they are seen as indicative of the market's underlying sentiment.

The current price of ETH sits at $2654.39, within the Bollinger band's upper resistance of $2716.26. Technical indicators, including the 50-EMA and 200-EMA, remain intact, with support expected to hold at the 50-EMA in case of a pullback.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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