Ethereum whales have opened huge long positions on Ether (ETH) totaling $425.98 million, looking like a daring bet that the downtrend is over.
Key Takeaways:
-
Ethereum whales opened leveraged long positions value a complete of $426 million.
-
Ether’s ascending triangle targets ETH price at $4,030.
Top traders open recent long ETH positions
Data from Cointelegraph Markets Pro and TradingView showed the ETH/USD pair trading at $3,140, 20% above the low of $2,621 hit on November 21.
Valued at over $3,000, Ether offered cause for optimism amid key volatility triggers.
A Fed rate cut decision is anticipated on Wednesday and markets are pricing in a 25 basis point rate cut.
While market participants waited for triggers, attention turned to a few “smart” whales with impressive track records who opened long positions totaling 136,433 ETH, value about $425.98 million, in response to data from Lookonchain.
One whale, BitcoinOG (1011short), has an extended position in ETH of $169 million, while Anti-CZ has an extended position of $194 million.
Smart whales are all unanimously long $ETH! #BitcoinOG(1011short) is long at $54,277 ($169.48 million) with a complete PNL of $105 million.
The anti-CZ whale with a complete PNL of $58.8 million is long $62,156 ETH ($194 million).
pension-usdt.eth is long $20,000 ETH ($62.5 million) with a complete PNL of $16.3 million… pic.twitter.com/idHbyTePTv
– Lookonchain (@lookonchain) December 8, 2025
A 3rd whale, pension-usdt.eth, consists of 20,000 ETH and is value about $62.5 million at the present rate.
In addition to those whales, Arkham Intelligence discovered that one other whale, 0xBADBB, is using two accounts to buy a complete of $189.5 million in ETH.
Ethereum whale long positions. Source: Arkham Intelligence
These moves coincide with BitMine's ongoing push into Ethereum. Last week, the corporate added $199 million more ETH, bringing its total holdings to three.73 million ETH ($13.3 billion) and solidifying its position as the most important corporate holder of ETH.
This reinforces the narrative that whales and institutions are viewing the recent rise in ETH price above $3,000 as a superb entry point.
Ether’s ascending channel targets ETH price at $4,000
Ether's price motion has formed a classic ascending triangle on the each day chart, as shown below. The break above the multi-month downtrend line on Tuesday increased the prospects for a sustained recovery.
The pattern will dissipate once the value breaks the resistance line of the triangle at $3,250. In this case, the value could rise by the utmost distance between the trend lines of the triangle.
This puts Ether’s breakout goal at around $4,020, a rise of greater than 28% from current price levels.
The Relative Strength Index has risen from oversold conditions at 28 to 50 on November 28, indicating increasing bullish momentum.
However, the recovery may very well be curbed by resistance within the $3,350-$3,550 resistance zone, where each the 50-day and 100-day SMAs currently lie. Furthermore, the following major hurdle is the 200-day SMA at $3,800.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision. While we attempt to offer accurate and up-to-date information, Cointelegraph doesn’t guarantee the accuracy, completeness or reliability of the data in this text. This article may contain forward-looking statements which are subject to risks and uncertainties. Cointelegraph is not going to be accountable for any loss or damage arising out of your reliance on this information.
