ETH Whale: Deposits $17.77M Into Kraken

ETH ancient whale linked to the Ethereum Foundation deposited 7594.33 ETH valued at $17.77 million into Kraken seven hours ago, marking its first exchange inflow in a year and clearing the wallet on-chain. The address originally received 242653 ETH from the RSS contract in 2016 during the hard fork split and last moved coins during the prior bull market; at current prices the position stands to realize at least $17.7 million in profit against a cost basis below $11.

The same entity transferred an additional 6093 ETH worth roughly $16.18 million shortly afterward, bringing total sales over the past three months to 17190 ETH.

Price action on the four-hour chart shows ETH trading inside the Bollinger Bands with the upper band at $2372.11 acting as immediate resistance while the lower band at $2300.63 offers short-term support. The 50-EMA at $2372.78 and 200-EMA at $2475.84 both sit above spot at $2359.13, confirming the broader bearish structure, yet the MACD golden cross at -9.4 signals building momentum; with RSI at 52.95 remaining neutral, a test of the upper band followed by a retracement toward the 50-EMA appears the most probable next sequence before any sustained continuation.