Matrixport Whale: Adds to 120000 ETH Longs at $2112

Matrixport-linked whale keeps scaling into $ETH longs as prices slide, now controlling 120000 ETH valued at $254M with more than $17.5M in unrealized losses according to on-chain data from Lookonchain.

The position has grown sharply from the 30000 ETH 15x long opened in late April, illustrating continued conviction from large holders tracked via Matrixport Ethereum whale positions history and on-chain tracking of large ETH long holders during market declines.

Price action on the 4h chart shows ETH at $2111.84 testing the lower Bollinger Band support near $2115.08 while the RSI at 22.55 signals deep oversold conditions and the MACD death cross at -33.33 reinforces bearish momentum below both the EMA50 at $2243.78 and EMA200 at $2265.42, suggesting any relief rally may stall at upper resistance around $2292.71 before further downside tests in the current ETH price prediction environment.