Ethereum’s price has rallied by more than 2% over the last seven days. Amidst this, a whale sold a substantial number of ETH tokens.has lifted its price substantially over the last few days. Thanks to that, several investors and whales enjoyed profits. In fact, as per the latest data, a whale made millions of dollars in just a few days.
At the time of writing, ETH was trading at $1,805.05 with a market capitalization of over $217 billion. A look at ETH’s daily chart provided a better understanding of what went in the token’s favor over the last few weeks. Notably, ETH’s MACD displayed a bullish crossover on 20 October 2023, after which the token began its rally.
During the same period, its Relative Strength Index and Money Flow Index also gained upward momentum, supporting the token’s price uptrend. Ethereum’s Chaikin Money Flow also turned bullish as it went above the neutral mark over the last few days.Though the latest bull run was quite optimistic for the token, the upcoming days might be different for Ethereum.The whale spent 8.63 million USDT to buy 5,437 ETH at $1,587 before the price increased on 20 October.
On top of that, ETH’s RSI entered the overbought position, which could further exert selling pressure and, in turn, push the token’s price down.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
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