Whale Sells 8,250 ETH After Nearly Five-Year Hold for $4.58 Million Gain
A significant Ethereum whale has made a notable sale of 8,250 ETH tokens after holding them for nearly five years. The address 0xCbE36050a50E3d3e6077494f4d9Ad81Ec3A6E7d4 transferred the tokens to Coinhako exchange at $2,758, having acquired them at $2,202 via Binance in early 2022.
The sale resulted in a realized gain of $4.58 million, representing a 25 percent increase on the position held through multiple market cycles.
The price action on the four-hour chart shows Ethereum trading at $2,735.99 within its Bollinger Bands, with upper resistance at $2,835.4 and anchored by the 50-EMA at $2,627.17 and 200-EMA at $2,424.18.
Technical indicators suggest a probable retracement towards the 50-EMA support before any sustained push higher, as the neutral RSI sits at 61.24 and the MACD death cross is at 46.79.