Lookonchain: ETH Whale Closes $8.93M Profit Position

Lookonchain flagged the closure of a major ETH long by the same wallet that entered 20,000 ETH ($48.4M notional) on August 19 and held through the subsequent rally.

The position delivered a realized profit of $8.93 million, well below the $17 million peak in unrealized gains recorded during the 56-day hold. Hyperliquid data shows the trader exited at current spot levels near $2,422.

Price sits inside the Bollinger band with upper resistance at $2,589 and lower support at $2,409 while the 50-EMA at $2,527 and 200-EMA at $2,564 cap upside; the MACD death cross and RSI at 33.75 keep the structure bearish, suggesting any bounce into the upper band will likely meet selling before a test of EMA support.