Galaxy Digital Moves $10M in ETH: Is Ethereum Set for a Downturn?

  • Galaxy Digital’s $10.24M ETH withdrawal highlights market impact.

  • Ethereum’s price dips to $2,736, with key support at $2,730 and resistance at $2,750.

  • RSI at 44.58 suggests Ethereum is slightly oversold with MACD indicating possible decline.

Galaxy Digital recently pulled a sizable 3,735 ETH from Binance. This withdrawal, worth about $10.24 million, happened when Ethereum was trading at $2,740 per token. This move boosts Galaxy Digital’s Ethereum holdings on the blockchain to 63,984 ETH, a hefty $175 million.

As a result, Ethereum’s price saw some swings in the last 24 hours, reflecting the broader market. It climbed near $2,790 but then dropped back below $2,750. This upward movement, however, was short-lived as the price subsequently dropped, slipping below the $2,750 mark. 

As at press time, Ethereum price is hovering around $2,736.12, down by 0.52% over the past day. The market now exhibits signs of stabilization, though the downward pressure has not entirely dissipated.

Source: Coinmarketcap

Key support and resistance levels are important to understand where the price might go next. Ethereum currently has support at $2,730, a level it’s tes…

The post Ethereum Price Dips as Galaxy Digital Moves Millions appeared first on Coin Edition.

#ETH