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Recent reports show that a participant from Ethereum's initial coin offering (ICO) has sold 3,000 ETH for approximately $7.64 million. This sale is part of a larger trend where early investors are cashing out some of their holdings.
The investor, often referred to as a "whale," received 254,908 ETH during the ICO, which was worth about $79,000 back then. Today, that amount is worth over $646 million. After selling 3,000 ETH recently, the whale still has 37,070 ETH left, which is worth around $93.8 million.
The intraday bullishness is possible if it holds above $2770.On the higher side, the near-term resistance is 2770. Any significant jump above targets $2820/ $3000/$3200. Significant bullish continuation only above $3400.
The immediate support is around $2500. Any breach below $2500 confirms bearish continuation. A dip to $2100/$2000/$1800/$1500 is possible. A violation below $1500 will drag the Ethereum to $1000.
It is good to buy on dips around $2500 with SL around $2300 for TP of $2820.
