A major Ethereum whale, who accumulated long positions totaling 120,000 $ETH, has closed another 34,000 ETH for a tidy profit of $8.16 million. This move leaves two addresses with remaining 84,000 ETH longs valued at $200 million, boasting unrealized gains of $26.86 million. Traders eye this as profit-taking during the recent upswing, reminiscent of similar whale maneuvers in the last six months that preceded short-term pullbacks in ETH price prediction scenarios. With Bitcoin (BTC) also showing strength, this could signal broader crypto market momentum shifts.

On the 4-hour chart, ETH trades at $2,333.05 in a clear bullish structure, hugging the EMA50 at $2,235.65 as immediate support while the EMA200 at $2,136.80 anchors longer-term floors. MACD screams bullish with a golden cross at 36.12, but RSI at 61.16 stays neutral, hinting at no immediate overheat. Price dances inside Bollinger Bands, testing the upper resistance at $2,426.05—a level where exhaustion often kicks in—while lower support at $2,114.56 offers a safety net. Confluence here points to potential upside if we break upper bands, but watch for a dip to EMA50 before resuming the grind, especially with whale profit-taking adding selling pressure.