. Intriguingly, this was not the first instance of the whale engaging in such a maneuver. The investor persisted and opted to short ETH again after being previously liquidated due to a price increase.
However, after enduring substantial losses, the whale ultimately decided to cut losses and closed the short position on ETH. This was when it had incurred a loss of over $1.88 million. It was worth noting that the investor’s short position on ETH commenced on 15 June and was progressively augmented as the cryptocurrency price continued to climb.Ethereum [ETH]
revealed a persistent uptrend ever since the influential whale initiated a short position. Although occasional losses temporarily halted the upward trajectory, the dominant trend remained bullish. Since the end of June until now, ETH has recorded a remarkable gain of over 4% in value. As of writing, its trading price hovered around $1963.1, representing a further increase of over 1%.continued to exhibit signs of a bullish market. The Relative Strength Index remained above the threshold of 60, indicating robust buying momentum. On the other hand, the Moving Average Convergence Divergence sustained a positive trend above zero.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »