Ethereum News Today: Ethereum Whales Bet Big as $4,336 Becomes Price Gravity

Ethereum (ETH) has seen renewed attention as key technical indicators and large-position activity suggest the asset is testing critical support and resistance levels following recent consolidation. The price has remained above its 20-day exponential moving average, a level that has historically supported the uptrend since July. This level now coincides with the lower boundary of a forming falling wedge on the daily chart, reinforcing the argument for a potential bullish reversal [1].

Notably, a single Ethereum whale has opened a $16.35 million long position with 25x leverage, entering at $4,229.83 per ETH. The position is already slightly in profit as ETH hovers above $4,240. A 1% price increase would generate over $163,000 in profit, while a 4.34% decline would trigger a liquidation event. Liquidation heatmaps also highlight a dense cluster of short positions between $4,300 and $4,360, particularly around $4,336, which could act as a liquidity “magnet” for the price to gravitate toward [1].

On the broader technical outlook, Ethereum is currently staging a significant weekly retest of prior resistance levels. The $3,900–$4,000 range, previously a key resistance, has now flipped to a potential support zone. If the price holds above $4,140, the falling wedge pattern and 20-day EMA alignment could validate the bullish case, with a potential upside target as high as $4,750 [1]. Meanwhile, crypto analyst @cas_abbe has noted that ETH’s uptrend remains intact following a period of sideways consolidation and a brief dip. He anticipates a potential pullback to the $4,100–$4,200 zone before a new all-time high [2].

The ETH/BTC ratio is also showing signs of a potential breakout after nearly three years of being capped by a key resistance level. Analyst @MilkRoadDaily highlighted that a monthly close above this level could see the resistance transform into support, signaling a shift in market sentiment [1]. On-chain data supports this, with Ethereum’s transaction volumes increasing by 15% in the past week and derivatives activity showing a 25% spike in open interest, particularly in call options set to expire in September [1].

Ethereum’s potential resurgence is also reflected in broader market correlations. As institutional interest in crypto assets grows, a strengthening ETH/BTC ratio may reflect increased confidence in Ethereum’s ecosystem, including developments in decentralized finance (DeFi) and layer-2 scaling solutions. ETF inflows into Ethereum have reached $500 million in the last quarter, contributing to liquidity and price stability [1].

While the bullish case is strong, a failure to break through key resistance levels or a close below $4,140 could invalidate the current pattern, leading to further consolidation or a deeper pullback. Traders are advised to closely monitor price action around $4,100–$4,200 and keep a watchful eye on the weekly close for confirmation of the pattern’s validity [1]. With increased whale activity and growing on-chain metrics, the market remains poised for a potential breakout in the near term.

Source:

[1] ETH/BTC Ratio Tests 3-Year Resistance in 2025: Monthly Close Could Confirm Breakout and Flip to Support (https://blockchain.news/flashnews/eth-btc-ratio-tests-3-year-resistance-in-2025-monthly-close-could-confirm-breakout-and-flip-to-support)

[2] Ethereum (ETH) Uptrend Intact: Sideways Consolidation and Possible $4.1K–$4.2K Dip Before New ATH, Says @cas_abbe (https://blockchain.news/flashnews/ethereum-eth-uptrend-intact-sideways-consolidation-and-possible-4-1k-4-2k-dip-before-new-ath-says-cas-abbe)