Ethereum News Today: Ethereum Whale Bets $16.3M on Upcoming $4,336 Breakout

Ethereum (ETH) price has recently gained 4.8%, pushing it toward key resistance levels and drawing attention from large market participants. A significant Ethereum whale has entered a leveraged long position of $16.35 million at $4,229.83 per ETH, using 25x leverage in a high-risk trade that reflects confidence in the asset’s short-term recovery. At current prices near $4,240, the position is slightly in profit, and a mere 1% price increase would translate to over $163,000 in unrealized gains. Should Ethereum rise to $4,336—a level associated with a dense cluster of short liquidations—the trade could generate around $450,000 in paper profits. However, a 4.34% drop to $4,046 would lead to liquidation of the position [1].

This whale’s move coincides with broader technical indicators suggesting a potential bullish reversal. ETH is currently holding above its 20-day exponential moving average, a key support level that has guided the uptrend since July. The price also aligns with the lower boundary of a falling wedge pattern on the daily chart, a classic technical formation that, if confirmed, could signal a move toward $4,750. On the weekly chart, Ethereum is staging a “retest” of a former resistance level near $3,900–$4,000, which has now flipped into support [1].

Market sentiment reflects a cautious outlook, with ETH trading near $4,267 as of press time. Analysts suggest the price may trade sideways within the $4,300–$4,500 range in the near term, particularly as volume remains low and neither buyers nor sellers have accumulated sufficient energy to break out decisively. A break above $4,336 could trigger further upward momentum, potentially pushing the price toward $4,400 in the short term. In the medium term, a successful retest of support around $4,093 could set the stage for a test of the $4,800–$5,000 area [2].

Meanwhile, additional large holders have been accumulating ETH during the recent price dip. Two whale addresses reportedly purchased nearly $192 million of Ethereum from BitGo, while another whale acquired around $70 million worth through FalconX. These large-scale purchases signal confidence in the cryptocurrency's long-term value and are often viewed as a positive sign by market observers [3].

Despite recent bullish indicators, Ethereum faces a critical test of its $4,000–$4,100 support zone. If this level holds, it strengthens the case for a short-term rebound toward $4,300 and beyond. A successful move into that zone could trigger short liquidations, adding further upward pressure. Conversely, a breakdown below $4,140 could invalidate the current bullish pattern and send ETH into a deeper correction [1].

Source: [1] Ethereum Whale Opens $16.3M Long as ETH Price Eyes Bounce (https://cointelegraph.com/news/ethereum-whale-opens-16-3m-long-as-eth-price-eyes-bounce) [2] Ethereum (ETH) Price Prediction for August 21 (https://u.today/ethereum-eth-price-prediction-for-august-21) [3] Ethereum Whale Goes Big With $16.35M Leveraged Position (https://www.cointribune.com/en/ethereum-whale-goes-big-with-16-35m-leveraged-position/)