ETH: Institution Sends $378M to Binance and OKX

ETH faces fresh institutional selling pressure as one entity routes 52,739 ETH worth $129 million into Binance, OKX and four other exchanges over the past day, leaving another 101,561 ETH valued at $249 million still in two wallets for potential further sales totaling 154,300 ETH or $378 million.

The coins originated from Coinbase withdrawals at roughly $1,700 during 2021-2022, moved into Ethereum staking in 2023, redeemed last January, then consolidated before the recent exchange inflows.

Price action on the 4h chart shows ETH at $2441.67 holding above the EMA50 support at $2422.69 while the EMA200 sits far below at $2168.07; with RSI at 46.86 remaining neutral and MACD printing a death cross at -3.64, the market trades inside Bollinger Bands where the upper resistance at $2508.78 caps upside and the lower support at $2405.23 defines immediate downside risk before any sustained move.