Ethereum whales have taken significant long positions on Ether (ETH), amounting to $425.98 million, in what appears to be a confident bet that the price decline has ended.
Key takeaways:
Ethereum whales have established leveraged long positions totaling $426 million.
The ascending triangle pattern for Ether targets an approximate price of $4,030 ETH.
Leading traders initiate new long positions on ETH
Data from Cointelegraph Markets Pro and TradingView indicated that the ETH/USD pair was trading at $3,140, representing a 20% increase from the $2,621 low recorded on Nov. 21.
With Ether holding above $3,000, there is some reason for optimism ahead of major volatility triggers.
Related: Vitalik Buterin proposes gas futures on Ethereum to mitigate fee spikes
A decision from the Fed regarding interest rates is anticipated on Wednesday, with the market forecasting a 25-basis-point cut.
As participants await key triggers, focus has shifted to three notable “smart” whales, each with an impressive track record, who have launched long positions totaling 136,433 ETH, or roughly $425.98 million, according to Lookonchain data.
One notable whale, BitcoinOG (1011short), holds a long position of $169 million in ETH, while another, Anti-CZ, has a long exposure of $194 million.
Smart whales are all unanimously going long on $ETH!#BitcoinOG(1011short), with $105M in total PNL, is long 54,277 $ETH($169.48M).
Anti-CZ whale, with $58.8M in total PNL, is long 62,156 $ETH($194M).
pension-usdt.eth, with $16.3M in total PNL, is long 20,000 $ETH($62.5M).… pic.twitter.com/idHbyTePTv
— Lookonchain (@lookonchain) December 8, 2025
A third whale, pension-usdt.eth, has a long position of 20,000 ETH, valued at approximately $62.5 million based on current rates.
In addition to these whales, Arkham Intelligence noted that another whale, 0xBADBB, is operating two accounts to achieve a total long position of $189.5 million in ETH.
These actions align with BitMine’s ongoing commitment to Ethereum. Last week, the company increased its holdings by an additional $199 million in ETH, raising its total to 3.73 million ETH ($13.3 billion), solidifying its status as the largest corporate holder of ETH.
This further supports the narrative that both whales and institutions see the recent rebound in ETH prices above $3,000 as an opportune entry point.
Ether’s ascending channel points to a target price of $4,000 ETH
The price movement of Ether has created a traditional ascending triangle pattern on the daily chart, as shown below. The breakout above the prolonged downtrend line on Tuesday has heightened the likelihood of a prolonged recovery.
The formation will conclude once the price surpasses the triangle’s resistance line at $3,250. Should this occur, the price could increase by the maximum distance between the trend lines of the triangle.
This sets the breakout target for Ether at approximately $4,020, which would be an increase of over 28% from current price levels.
The relative strength index has risen to 50, compared to oversold conditions at 28 on Nov. 28, indicating a growing upward momentum.
Nevertheless, the recovery may face challenges from the $3,350-$3,550 resistance zone, where both the 50-day and 100-day SMAs are located. Beyond this, the next significant resistance level is the 200-day SMA at $3,800.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
