Ethereum: USD/ETH (ETH=) Co-Founder Reportedly Sells 90k ETH To U.S. Cryptocurrency Exchange

Ethereum: USD/ETH (ETH=) Co-Founder Reportedly Sells 90k ETH To U.S. Cryptocurrency Exchange

Ethereum: USD/ETH (ETH=) Co-Founder Reportedly Sells 90k ETH To U.S. Cryptocurrency Exchange

Ethereum (ETH) co-founder and core developer, Jeffrey Wilcke, has reportedly sent 92,000 ETH ($11.5 million) to U.S. cryptocurrency exchange Kraken on Dec. 25.

The proof is in the blockchain

In addition to Wilcke’s tweet, sources show that an ETH address registering the name of Jeff Wilcke moved 90,000 ETH to Kraken in full.

In January 2016, an account funded by the Ethereum Foundation dev wallet moved 408,000 ETH to an ox600 address. Between January 2016 and the end of this year, the address shows continual selling and movement of funds, yet this decreases sharply on Dec. 25.

While the address still has 218,000 ETH ($27 million), 90,000 of this was moved to an intermediary address and then sent in full to Kraken.

Monitoring resource etherscan shows the interaction was performed by the ox600 address.

Prior to Wilcke sending 90,000 ETH to Kraken, Vitalik Buterin revealed on a podcast that aired Dec. 11 that the Ethereum Foundation netted around $100 million by selling ETH at its last all-time high, when it was trading close to $1,400 in January 2018.

Technical Indicators

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 154.04.

The projected upper bound is: 147.23.

The projected lower bound is: 121.90.

The projected closing price is: 134.57.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.0005. This is not an overbought or oversold reading. The last signal was a buy 25 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 48.51. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 211.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 6 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed up 1.110 at 135.660. Volume was 28% below average (neutral) and Bollinger Bands were 23% narrower than normal.

Open     High      Low     Close     Volume___
133.080 138.540 132.550 135.660 41,442
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 129.00 149.21 195.72
Volatility: 46 55 77
Volume: 55,780 58,829 64,956

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX ETH= is currently 30.7% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of ETH= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ETH= and have had this outlook for the last 1 periods.

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