Ethereum Whale Opens $16.3M Long Position on ETH Price Rebound
ETH eyes $4,300–$4,750 as whale bets big on bounce. A 1% move could yield $163K profit.
Crypto Laddin
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Ethereum (ETH) continues to trade near key support levels, and now a major whale has entered a $16.35 million long position using 25x leverage — a bold move suggesting confidence in a near-term rebound.
The position, opened at $4,229.83 per ETH, is already slightly in profit. Just a 1% increase could earn the trader $163,000. According to heatmap data from Kingfisher, there’s a dense short liquidation cluster between $4,300 and $4,360, which often acts as a “magnet” for price movement.
If ETH hits $4,336, the whale could be sitting on nearly $450,000 in unrealized gains. But there’s risk: a 4.34% drop to $4,046 would completely liquidate the trade.
Technicals support the long case. ETH remains above its 20-day EMA and is forming a falling wedge pattern, which is historically a bullish signal. If confirmed, ETH could aim for $4,750 and even $8,000 longer-term.
Weekly charts show ETH has flipped $3,900–$4,000 from resistance to support, with analysts suggesting that this key level could launch the next big move:
“$ETH to $8K once this retest holds.”
