Can Ethereum reclaim $4K? ‘Smart trader’ whale raises ETH long to $131M
A successful trader increased their Ethereum long position to $131M as ETH tested the $4,000 level amid bullish technical signals.Summary
Ether (ETH) rebounded to test the $4,000 mark, fueling optimism among traders who see potential for further gains. Analyst Daan Crypto Trades noted that breaking above the cycle high of $4.1K is crucial for a major breakout.
Attention focused on an anonymous trader with a reported 100% win rate who significantly increased their long position in Ethereum to 33,270 ETH, valued at approximately $131.24 million. This trader also opened a large Bitcoin long position.
Bullish sentiment is supported by technical indicators, including declining ETH balances on exchanges, suggesting a supply squeeze where holders are accumulating rather than selling. Analysts predict ETH could target resistance at $4,250, potentially leading to the $4,750 zone, with some long-term targets reaching $10,000, provided key support levels hold.
(Source：Cointelegraph)