Lookonchain: Machi Sells 31 Bored Apes to Fund ETH Longs
Lookonchain reports that Machi sold 31 Bored Apes at a loss for 231 ETH worth $506K in the past week to fund leveraged long positions but lost the proceeds trading and now holds 75 Bored Apes.
SourceAnalysis
Lookonchain flagged that Machi liquidated 31 Bored Apes over the past week, converting them into 231 ETH ($506K) to back leveraged long bets that were fully wiped out.
The trader now retains just 75 Bored Apes after repeated losses on the positions funded by those sales.
ETH trades at $2071.18 inside its 4h Bollinger Bands, with the upper band at $2274.35 capping near-term upside and the lower band at $1991.95 defining immediate downside. The EMA50 at $2193.51 and EMA200 at $2360.49 both sit above price as layered resistance, while the MACD death cross at -49.89 keeps the broader structure bearish and RSI at 35.33 shows neutral momentum that leaves room for further downside before any relief bounce.
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