ETH Whale: 2016 Buyer Adds $1.43M Position

ETH smart money that acquired 11004 tokens at a $3.45 average in 2016 and booked $30.38 million in gains has returned to the market. One hour ago the wallet purchased 647.137 ETH at a $2211.49 average for $1.43 million while retaining 14.19 million USDC for potential follow-through.

The same address remained dormant for roughly twelve months after its last visible activity. Market participants now watch whether the fresh accumulation signals renewed conviction or simply opportunistic positioning near current levels.

Price action on the 4-hour chart shows ETH trading inside the Bollinger Bands with the upper band at $2320.27 acting as immediate resistance and the lower band at $2187.74 providing short-term support. The 50-EMA at $2280.48 and 200-EMA at $2271.85 sit above spot as layered resistance while RSI at 31.48 remains neutral and MACD prints a bearish death cross, suggesting any bounce toward the upper band could stall before a deeper test of the 50-EMA confluence zone.