Ethereum’s climb to the $3,000 level has prompted major whale investors to open 136,433 ETH in long positions, signaling renewed confidence in a short-term rally toward the $4,000 mark. Technical indicators now suggest that Ether may be preparing for a stronger move higher.
Ethereum whales have opened leveraged long positions worth roughly $426 million, indicating that large holders believe the recent downside may be ending. Data from Cointelegraph Markets Pro and TradingView shows ETH trading near $3,140, about 20% above its late-November low of $2,621.
As Ether holds above the key $3,000 threshold, optimism is building ahead of major events that could increase volatility. Traders are closely watching the Federal Reserve, which is expected to announce a 25-basis-point rate cut this Wednesday.
According to Lookonchain, three well-known “smart” whales have taken substantial long positions totaling 136,433 ETH. One whale, known as BitcoinOG (1011short), has opened a $169 million long. Another trader, Anti-CZ, holds a $194 million long exposure. A third wallet, pension-usdt.eth, is long 20,000 ETH, worth approximately $62.5 million.
In addition, Arkham Intelligence reports that another whale, identified as 0xBADBB, is using two separate accounts to accumulate long positions totaling $189.5 million in ETH.
These moves align with continued accumulation from BitMine, which recently added another $199 million in Ether. BitMine now holds 3.73 million ETH valued at $13.3 billion, making it the largest corporate holder of Ether. This growing institutional interest reinforces the idea that the rebound above $3,000 may be an attractive entry point for larger investors.
Technically, Ethereum has formed an ascending triangle pattern on the daily chart, signaling potential for a breakout. The move above a multimonth downtrend line has strengthened the recovery outlook. A confirmed breakout above the triangle resistance at $3,250 could send ETH toward a target near $4,020 — roughly a 28% gain from current levels.
Momentum also appears to be improving. The relative strength index has risen to 50, climbing from the oversold reading of 28 on Nov. 28. However, the recovery may face challenges in the $3,350–$3,550 resistance range, where the 50-day and 100-day moving averages are positioned. The next major barrier is the 200-day moving average at $3,800.
