Ethereum whales have initiated substantial long positions on Ether (ETH), totaling $425.98 million, marking a significant wager that the downturn has ended.
Key takeaways:
Ethereum whales have established leveraged long positions amounting to $426 million.
Ether’s ascending triangle predicts a price target of $4,030 for ETH.
Major traders create new ETH long positions
According to data from Cointelegraph Markets Pro and TradingView, the ETH/USD pair is trading at $3,140, which is 20% higher than the $2,621 low recorded on Nov. 21.
Staying above $3,000 has sparked some optimism ahead of significant volatility triggers.
Related: Vitalik Buterin proposes gas futures on Ethereum to mitigate fee spikes
A decision regarding a Fed rate cut is anticipated on Wednesday, with markets estimating a 25-basis-point reduction.
As participants awaited triggers, focus has shifted to three “smart” whales with strong performance records who have opened long positions amounting to 136,433 ETH, estimated at approximately $425.98 million, according to Lookonchain data.
One whale, BitcoinOG (1011short), has a long position valued at $169 million in ETH, while Anti-CZ has a long position worth $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, holds a long position of 20,000 ETH, valued at about $62.5 million at current rates.
In addition to these whales, Arkham Intelligence pointed out that another whale, 0xBADBB, is leveraging two accounts to go long for a total of $189.5 million in ETH.
These actions coincide with BitMine’s ongoing expansion into Ethereum. Last week, they added $199 million more in ETH, raising their total to 3.73 million ETH ($13.3 billion), solidifying their status as the largest corporate holder of ETH.
This reinforces the perception that whales and institutions consider the recent ETH price resurgence above $3,000 as an advantageous entry point.
Ether’s ascending triangle indicates a target of $4,000 for ETH
Ether’s price movements have created a classic ascending triangle pattern on the daily chart, as illustrated below. The breakout above the multi-month downtrend line on Tuesday has enhanced the likelihood of a sustained recovery.
The pattern will be resolved once the price surpasses the triangle’s resistance line at $3,250. If this occurs, the price may increase by as much as the maximum distance between the triangle’s trendlines.
This sets Ether’s breakout target at approximately $4,020, representing an increase of over 28% from current price levels.
The relative strength index has risen to 50, up from oversold territory at 28 on Nov. 28, indicating growing upward momentum.
However, the recovery may be hindered by resistance from the $3,350-$3,550 range, where the 50-day and 100-day SMAs currently lie. Beyond this zone, the next significant challenge is the 200-day SMA situated 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.
