Ethereum News Today: Ethereum Surges Past $3,300 as BitcoinOG Accumulates $280M Long Position

Ethereum surged above $3,300 on Monday, marking one of its strongest moves in months. A major whale, known as BitcoinOG, has been aggressively accumulating the asset, increasing his position to 85,010 ETH. His latest move has added $16 million in unrealized gains as the market braces for the upcoming Federal Reserve meeting.

The whale's actions stand in sharp contrast to the cautious sentiment dominating the broader crypto market. While Ethereum has shown short-term strength, analysts remain skeptical about a sustained bullish reversal. The asset is still far from key structural levels needed to confirm a long-term trend shift according to recent analysis.

BitcoinOG's track record has made his moves highly watched by on-chain analysts. He previously capitalized on the October 10 Bitcoin crash by shorting the market, earning significant profits. Now, he's betting Ethereum can maintain upward momentum despite lingering macroeconomic uncertainties.

Whale Positioning and FOMC Impact

BitcoinOG's expanded long exposure suggests a strong conviction in Ethereum's potential. His position is now valued at around $280 million, with over $16 million in unrealized gains. This aggressive move has drawn attention from traders and analysts who are closely monitoring how the broader market reacts.

The timing of his accumulation is notable, as the market approaches a key Federal Reserve meeting. The FOMC decision will influence liquidity and risk appetite across financial assets. A rate cut could weaken the U.S. dollar and provide tailwinds for Ethereum. However, a hawkish stance or smaller-than-expected easing could lead to a sell-the-news reaction, especially with ETH near resistance according to market analysis.

Traders are also watching how whale activity aligns with macroeconomic signals. When a whale with a strong track record doubles down, it often signals a strategic bet on market conditions changing. In this case, BitcoinOG's actions imply he believes Ethereum is on the cusp of a larger move.

ETH Testing Breakout Strength Ahead of Key Resistance

Ethereum's 4-hour chart shows a clear shift in momentum after breaking above $3,300. This level had been a key support during its multi-week downtrend. The clean breakout, supported by rising volume, suggests a potential reversal in short-term sentiment.

The 200 EMA, which previously acted as resistance, is now flattening. This could indicate that bearish pressure is easing. However, Ethereum remains just below a critical resistance zone around $3,380–$3,420, where sellers previously intervened aggressively according to technical analysis.

If buyers can establish a solid hold above $3,300, the next target could be $3,500. That would require stronger volume and confirmation that the broader market is ready to accept higher prices. A rejection from $3,400, on the other hand, could trigger a pullback toward $3,200–$3,250. That area now serves as layered support with stacked moving averages according to current indicators.

What Analysts Are Watching

Analysts are closely monitoring whether Ethereum can convert the current bullish momentum into a broader trend. The 4-hour chart shows strength, but confirmation on higher timeframes remains pending. A sustained move above $3,420 would be a key signal for bulls.

BitcoinOG's actions have also raised questions about the broader positioning of smart money. His accumulation during a period of widespread caution points to a divergence between whale behavior and retail sentiment. This divergence often precedes larger price swings.

The upcoming FOMC decision will play a critical role in shaping the near-term outlook. A dovish outcome could fuel risk-on sentiment, providing a favorable environment for Ethereum to test higher levels. A hawkish surprise, however, could reignite bearish pressure, especially in the absence of strong follow-through buying.