Whale: Adds $20M ETH at $1,927 to Average Down
A whale address bought another $20 million worth of ETH at $1,927 on OKX to lower its average cost after spending $40 million two months earlier at $2,646, bringing total holdings to 25,498 ETH with an unrealized loss of $10.48 million.
SourceAnalysis
Whale address 0x4cee611502f378300981807d506629DA35cee4a7 added $20 million USDC worth of ETH at $1,927 one hour ago, following a $40 million purchase of 15,118 ETH at $2,646 two months prior. The combined position now totals 25,498 ETH at an average entry of $2,353, leaving an unrealized loss of $10.48 million.
The same entity had transferred $40 million USDC into Binance earlier this week and converted it into ETH at $2,706. This latest add-on on OKX signals continued accumulation despite the drawdown.
ETH trades at $1940.5 on the 4h chart, pressing the lower Bollinger Band support at $1950.48 while the EMA50 at $2127.66 and EMA200 at $2323.67 cap any recovery. RSI at 23.73 shows deep oversold conditions yet MACD remains locked in a death cross at -51.0, so price may need to retest the $1950.48 band before any sustained bounce toward the $2139.34 upper band resistance.
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@EmberCNAnalyst about On-chain Analysis