Ethereum (ETH) has dropped by more than 4 % in the last 24 hours, running away just above $ 4,150. Despite this recent drop, large traders and whales continue to place substantial bets, signaling their confidence that the decline in cryptocurrency could be temporary. Their positions suggest expectations of a rebound towards higher levels, even if the market sails in key support areas.
In short
- A whale opened a long -speaking position of $ 16.35 million at $ 4,229.83 per ETH.
- Short positions are grouped between $ 4,300 and $ 4,360, creating potential purchase pressure.
- Other whales bought for $ 192 million and $ 70 million in ETH during the decline, showing their confidence.
A big challenge bet on the rebound of Ethereum
Analyst Crypto Crypto Rover reported that a great Ethereum holder opened a position long of $ 16.35 million at $ 4,229.83 per room, using a lever effect of 25 times. It is a high -risk movement that amplifies both potential gains and potential losses.
At current prices close to $ 4,122, the trade is already in negative territory. The liquidation point is set at $ 4,046, leaving only a thin margin before the position is automatically closed. The bet, however, is based on the expectation that ETH will bounce towards higher levels where short positions are highly concentrated.
Observers underline that an important accumulation of Short positions is between $ 4,300 and $ 4,360with the highest levels around $ 4,336. If Ethereum enters this area, these short trades could be forced to close, adding high purchase pressure.
For the long whale bet, the price does not need to exceed new heights. Even a climb in this fork could be enough to erase the current losses and make the position profitable.
Ethereum fell after a rally at $ 4,790
The wider graph of Ethereum continues to show movement after a strong rally. Last week, cryptocurrency exceeded $ 4,790, its highest level for years. Since then, the price has returned to the $ 4,100 zone.
The current movement seems to be a correction, the market testing the region of $ 4,000 to $ 4,100 which previously actually active in resistance.
The DIY Investing market commentator described this as one of the The clearest weekly retests of a major level of resistance which is transformed into support.
He also noted that feeling often changes quickly with only a small price movement, but its perspective remains positive, projecting that Ethereum could ultimately target $ 8,000 if this retest holds.
Whales accumulate during the decline
While a leverage trader faces a short -term risk, other major investors accumulate ETH directly. The Blockchain Arkham Blockchain analysis platform reported that two new whale addresses bought nearly $ 192 million from Ethereum from Bitgo. In addition, another whale has acquired around $ 70 million via Falconx, with the 0x77 portfolio buying more than 15,700 ETH for a value of $ 68.6 million.
These purchases took place while the price of Ethereum was under pressure, indicating that the big holders see the decline as an opportunity. Participants in the market often consider these movements as a sign of confidence on the part of those with significant capital.
The situation is now focusing on Ethereum's ability to maintain support around $ 4,000. If this level holds, the argument in favor of a rebound that could push the price to $ 4,300 and beyond is strengthening. An thrust in this area would probably trigger short position liquidations, creating additional momentum for buyers.
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