Garrett Jin Deposits $396M ETH to Binance

Whale watcher Lookonchain reports that Garrett Jin, known as #BitcoinOG1011short, just dumped 166,023 ETH valued at $396M straight into Binance. This massive transfer hits as ETH navigates choppy waters, echoing large ETH whale deposit patterns from the past six months where similar inflows preceded sharp crypto market crash dips or rebounds. Traders eye this as a potential sell-off signal, especially with Bitcoin (BTC) hovering in tandem and viral trends like TAO drawing liquidity away from altcoins.

On the 4h chart, ETH trades at $2364.23 inside a bullish structure backed by the EMA50 at $2336.25 and EMA200 at $2266.98 acting as firm long-term supports. Momentum sits neutral with RSI(14) at 52.93, but the MACD(12,26) death cross at 17.66 screams bearish pressure. Price hugs the Bollinger Bands, testing upper resistance at $2408.75 while lower support at $2313.83 looms as a volatility exhaustion zone—expect a quick pullback to that EMA50 before bulls regroup for an ETH price prediction push higher if inflows don't cascade into a broader dump.