Lookonchain: ETH Whale Liquidated on $118.4M Long

Lookonchain flagged the complete liquidation of a prominent ETH bull holding 56,667 ETH valued at $118.4M, resulting in a $44.78M loss during the recent market crash.

The trader had earlier trimmed exposure from a larger 93,184 ETH long by closing 36,517 ETH to dodge liquidation and now faces new liquidation prices at $2,122.44 and $2,129.72 after cumulative losses exceeding $38M over the past year.

ETH trades at $2146.22 on the 4h chart inside a bearish structure defined by the EMA50 at $2265.27 and EMA200 at $2395.31. Momentum shows RSI(14) at 29.21 in oversold territory while MACD(12,26) prints -28.42 with a confirmed death cross. Price tests the lower Bollinger Band support at $2164.34 against upper resistance at $2291.86, creating a tight confluence zone where oversold momentum may trigger a brief bounce toward the EMA50 before any sustained recovery attempt.