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Significant amounts of Ethereum (ETH) were shifted to centralized exchanges over the past day by major players, signaling potential sell pressure while investor sentiment remains weak and the network’s Pectra upgrade faces delays. The upgrade, a key development post-Merge, was pushed from March to May 7th . Large institutional and individual holders moved tens of thousands of ETH onto exchanges within 24 hours. Data reported by The Data Nerd on X included transfers from. According to The Data Nerd on X , the following transfers were recorded: These transfers, totaling over 65,000 ETH (valued above $117 million), are often seen as preparation for selling, especially without offsetting inflows or bullish news. Ethereum is currently trading at $1,801.12, down 1.3% in the last 24 hours, CoinMarketCap data shows . ETH breached crucial support around $1,800, hitting a daily low of $1,751.33, and was attempting to reclaim the $1,800 level. The 20-day Exponential Moving Average (EMA) at $1,928 now acts as significant resistance. With ETH below this EMA and 24-hour trading volume down 32%, short-term momentum appears bearish. The daily chart’s Relative Strength Index (RSI) reading near 37.61 suggests bears currently control price action, though the gradient indicates potential short-term consolidation. The ETH price action is currently near the lower end of the Bollinger Bands and if the support at ETH price action neared the lower Bollinger Band. If support around $1,734 holds, a retest of the middle Band ($1,928) is possible. A breakout above the upper Band ($2,112) would require sustained bullish dominance. Conversely, failing to reclaim the 20-day EMA ($1,928) could keep prices suppressed, delaying any potential move above $2,000. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Wintermute-linked wallet offloads multiple memecoins on PancakeSwap A wallet linked to market maker Wintermute has sold several memecoins via PancakeSwap, including $160,000 in BABYDOGE, $140,000 in MUBARAK and $40,000 in TUT, according to The Data Nerd on X, citing data from

Ethereum whale sends $10.96M to Binance, faces multi-million dollar loss On-chain analyst The Data Nerd reported on X that around nine hours ago, a whale wallet beginning with 0xAaf deposited 6,131 $ETH (valued at approximately $10.96 million) to Binance Exchange. With an

Gnome Labs shifts $6.51M in $BNB to Bybit Gnome Labs transferred 10,850 BNB ($6.51 million) to Bybit about three hours ago, according to The Data Nerd on X, citing Arkham data. Gnome Labs also moved a total of 76.37 million $USDC to Binance and Bybit over a month.

Bybit-linked wallet sends another 22K $ETH to Binance, possibly for post-hack repayment Roughly eight hours ago, a wallet potentially tied to Bybit Exchange transferred 22,000 ETH—valued at around $45.35 million—to Binance Exchange, according to on-chain analyst The Data Nerd on