Main to remember::
-
An Ethereum whale obtained a profit of $ 9.87 million after only 14 days.
-
The ETH RSI signals a possible short -term correction to $ 3,000.
-
Despite taking advantage, long -term holders have a sustained optimistic conviction.
A high -level Ethereum whale locked a profit of almost $ 10 million after unloading a major part of their ether (ETH) assets. The profits occurred while Ether ended his eight -day victories sequence by lowering more than 3% on Tuesday.
Ethereum Whale ‘0x8c08’ goes out with 38% gains
Tuesday, Ethereum is aimed “0x8c08…” discharged 8,005 ETH for around $ 30.03 million, at an average price of $ 3,751, according to Data Resource Lookonchain.
The whale initially accumulated 9,582 ETH two weeks earlier at an average input of $ 2,725, an investment of $ 26.11 million. The recent sale generated a profit of $ 9.87 million, marking a yield of 38% in less than 14 days.
The portfolio still retains 1,577 ETH (worth around 5.96 million dollars), suggesting a strategic partial outing rather than complete liquidation.
This also suggests that the whale expects the bullish momentum from Ethereum to continue, having already won more than 50% of one month up to date (MTD).
Additional evidence of the strategic profits come from the “distribution distribution distribution” of Glassnode, which highlights the purchase clusters on the basis of the average acquisition price.
The red strip around the level of $ 2,520, representing high volume purchases in early July, faded recently.
This visual change implies that many of these carriers, now seated on significant unrealized gains, have started to lock the profits.
The portfolios of this price range continue to contain nearly 2 million ETH, which indicates that most holders do not sell.
As Glassnode noted, this behavior suggests that the new demand effectively absorbs sales sale, a sign of probable long -term optimistic conviction rather than distribution.
Ethereum Overbasht Woughing Correction Targets $ 3,000
The eight -day victories sequence of Ethereum pushed its 14 -day RSI in the exaggerated territory, now almost 78 years old.
Historically, such readings preceded short -term withdrawals, as we can see at the end of May, when ETH corrected 18.6% after a similar RSI peak.
A comparable scenario takes place now. The first signs of cooling emerged on Tuesday, with Eth reculed its local summit nearly $ 3,800.
The price could review the range from $ 3,000 to $ 3,200 by August if the momentum is fading. This range coincides with the 20 -day exponential mobile average (20 -day EMA; The Purple Wave), a level of key support.
A movement around $ 3,000 would still place Ethereum comfortably above its multi-year ascending trend line, as shown in the weekly graphic.
As long as ETH holds above its line of multi-year ascending trend, the price structure remains favorable to the continuation of the increase.
In relation: Wood Cathie Vend Coinbase, Roblox actions for Tom Lee’s ETH company
This could allow a reactive period before trying a movement towards the resistance zone of $ 3,800 to $ 4,100 and beyond. Some analysts provide that the price of ETH reaches $ 8,000 in the coming months.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
