An Ethereum whale has initiated a substantial long position worth $16.35 million on Ether, using 25x leverage, as the price of ETH shows signs of a potential rebound above $4,000. The position was taken at an entry point of $4,229.83 per ETH and is currently slightly profitable. Analysts note a significant cluster of short liquidations positioned between $4,300 and $4,360, indicating that a minor rally could yield considerable gains for this large trader. The whale's profit could potentially reach nearly $450,000 if ETH rises to the liquidity pool around $4,336. Meanwhile, Ethereum remains above its 20-day EMA, which provides support for the current uptrend. Market predictions suggest that if ETH continues to hold above these support levels, it could target approximately $4,750 in the near term. However, a drop below $4,140 could undermine this bullish scenario. Overall, the whale's bet reflects growing confidence in a recovery for ETH after months of volatility.

Source đź”—