Key Insights:
- Whale holds 86,845 ETH long worth $298M at 15x leverage, facing $2.4M unrealized loss.
- Weekly ETH chart shows bullish megaphone breakout, with analysts eyeing upside targets between $7,900 and $8,000.
- Ethereum trades near $4,566, down 1% daily but up 6% weekly with $34B trading volume.
An Ethereum whale has expanded a leveraged long position to 86,845 ETH, making it one of the largest open trades tracked on-chain. At the time of reporting, the position was valued at approximately $297.7 million, according to data shared by Crypto Rover.
Details from the trading dashboard show the long is valued higher at $397.8 million, reflecting real-time mark-to-market pricing. The position is running on 15x cross leverage, with an entry near $4,608 per ETH. Current market pricing near $4,580 has left the whale at an unrealized loss of around $2.4 million, with funding fees of -$200,777 and a liquidation threshold at $4,342.8.
Equity Distribution and Risk Exposure
The whale’s wallet shows total equity of $32.57 million, with the majority of exposure tied up in this leveraged ETH position. Spot holdings are minimal at about $680,579, while perpetual contracts dominate the account. This structure underlines the concentration of risk in a single trade.
Crypto Rover remarked,
“This whale just increased his $ETH long, bringing the total to a massive 86,845 $ETH ($297.7M),”
referencing the ongoing adjustments in the position.
Technical Chart Pattern Signals Upside
On the weekly Ethereum chart, analysts have identified a broadening megaphone pattern, often considered a bullish formation. The structure connects a series of higher highs and higher lows over the past two years, with widening swings between pivot points.
The most recent move has seen ETH break above the upper boundary of this pattern. CryptoGoos described it as a “bullish megaphone” and noted that “$8,000 is on the table” if the setup plays out. The measured target of the pattern suggests an 80% upside, from current prices near $4,580 to the $7,900–$8,000 range.
Current Market Conditions
Ethereum trades at $4,565.68, showing a 1% decline over the past 24 hours. On the weekly timeframe, ETH remains up 6%, supported by trading volume of $34.19 billion.
The chart suggests ETH may retest the breakout line before moving higher. Analysts continue to monitor whether support can hold, as this would keep the bullish megaphone setup valid and allow momentum to build toward higher price targets.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/whale-boosts-eth-long-to-86845/