Ethereum Faces Potential Pressure as Whales Unload $528 Million Amid Ongoing Rally

Key Points

1. Two major Ethereum whales sold a combined 178,080 ETH (worth ~$528M), with one locking in profits after purchasing at $2,118 and selling at $3,145.

2. On-chain data shows another whale partially exited positions, selling 98,610 ETH at $2,819 after acquiring them at $2,518, amid overbought conditions (RSI at 83.46).

3. Despite whale sell-offs, Ethereum maintains strong technical support, with key EMAs and the $3,200-$3,300 range acting as critical levels.

4. Market sentiment remains cautiously optimistic, with whales retaining significant ETH holdings, indicating ongoing confidence in the asset.

5. The article also briefly mentions unrelated cryptocurrency news (e.g., Bitcoin first-time buyers, Tether minting, Shiba Inu volume surge) but focuses primarily on Ethereum whale activity.