The on-chain positioning strategy watched by crypto investor Ted: tracking when ultra-low-cost whale addresses take profits.
An ETH address with an extremely low cost basis sold 13,320 ETH in one transaction, cashing out about $36.34 million and making more than 8,750x. The average selling price was around $2,728.
ETH is currently at $2,559, down 5.1% over 24 hours—about 6.6% below that average selling price. The idea is that long-held coins were heavily sold above $2,700, making this zone an area of selling pressure from profit-taking. With the price back near the lower end of the range, the short-term focus is whether it can hold around $2,500. If it rebounds and climbs back above $2,700, watch for a second wave of selling pressure.
#ETH
An ETH address with an extremely low cost basis sold 13,320 ETH in one transaction, cashing out about $36.34 million and making more than 8,750x. The average selling price was around $2,728.
ETH is currently at $2,559, down 5.1% over 24 hours—about 6.6% below that average selling price. The idea is that long-held coins were heavily sold above $2,700, making this zone an area of selling pressure from profit-taking. With the price back near the lower end of the range, the short-term focus is whether it can hold around $2,500. If it rebounds and climbs back above $2,700, watch for a second wave of selling pressure.
#ETH