Whale Eyes on Ethereum: Smart Traders Stack $426M in Long Bets Ahead of Potential $4K Breakout

Ethereum’s technical setup has sparked a buying frenzy among sophisticated traders. The ETH/USD pair is currently trading around $3,150 with a +2.04% gain over the past 24 hours, representing a significant recovery from the $2,621 lows seen just weeks prior. More notably, several high-profile market participants have made their conviction clear by establishing substantial bullish exposure totaling approximately $425.98 million.

The Whale Eyes Turn Bullish: $426M in New Long Exposure

Recent tracking data reveals that three prominent traders with exceptional trading records have collectively accumulated 136,433 ETH in long positions. The scale of these bets suggests these market veterans view the recent price recovery above $3,000 as a genuine inflection point rather than a temporary relief rally.

BitcoinOG (1011short) leads the charge with $169 million in ETH long exposure across 54,277 coins. This trader boasts an impressive $105 million in cumulative profits, lending credibility to the current bullish thesis. Meanwhile, Anti-CZ has committed $194 million to similar positions, holding 62,156 ETH with a $58.8 million lifetime profit record backing the conviction.

The third major participant, pension-usdt.eth, rounds out the trio with 20,000 ETH worth approximately $62.5 million at prevailing prices. Beyond these three, additional whale activity detected by blockchain monitoring firms shows accounts like 0xBADBB coordinating $189.5 million in combined ETH longs across multiple wallets.

This coordinated whale positioning has coincided with institutional accumulation. Major corporate holders have recently pushed significant capital into Ethereum, with one notable entity adding $199 million to holdings, bringing total positions to 3.73 million ETH—a portfolio worth $13.3 billion. Such institutional confluence with whale activity reinforces the narrative that sophisticated money sees current levels as attractive entry zones.

Ascending Triangle Pattern Points Toward $4,000 Target

From a technical perspective, Ethereum’s daily chart displays a textbook ascending triangle formation. The breakout above a critical downtrend resistance line on recent trading days has elevated the probability of sustained upside momentum.

The pattern awaits confirmation through a decisive close above the triangle’s upper resistance at approximately $3,250. Should this breakout materialize, the measured move calculation—based on the maximum vertical distance between the pattern’s upper and lower boundaries—projects a potential advance toward $4,020. This represents roughly 28% upside from current trading levels.

Supporting the bullish momentum, the relative strength index has climbed from oversold conditions near 28 in late November to present levels near 50, indicating diminishing selling pressure and increasing buyer engagement.

Resistance Zones Could Test Patience

The path upward faces defined resistance barriers that may determine whether the $4,000 target proves achievable. The 50-day and 100-day simple moving averages converge in the $3,350–$3,550 band, representing the first major obstacle. Beyond that zone sits the 200-day SMA positioned around $3,800, marking the secondary hurdle before the $4,000 psychological level comes into play.

Fed policy decisions and macroeconomic data remain wildcard catalysts that could either accelerate the breakout or trigger consolidation at these overhead resistance zones. Nevertheless, with whale eyes collectively focused on Ethereum and technical patterns suggesting upside potential, the stage appears set for a meaningful rally should key resistance levels surrender.