Whale Image: Ethereum whale stakes $426 million as ETH prepares to spike above $4,000

In the context of a market showing signs of recovery, Ethereum whales have made a bold move — opening a total long position of $425.98 million. This move not only demonstrates the confidence of major investors but also suggests that the bearish phase may have ended.

Top whales start building long positions

According to data from Lookonchain, three “smart” whales have collectively attacked the ETH market. BitcoinOG (1011short) holds a long position worth $169 million with 54,277 ETH, while Anti-CZ owns 62,156 ETH valued at $194 million. Next is pension-usdt.eth with 20,000 ETH (approximately $62.5 million).

Additionally, Arkham Intelligence reports that whale 0xBADBB is using two accounts to long a total of $189.5 million worth of ETH. The concentrated betting by these whale investors indicates they are expecting a significant price jump soon.

Notably, BitMine has also aggressively increased its position. Last week, the company added another $199 million worth of ETH, bringing its total holdings to 3.73 million ETH ($13.3 billion), reaffirming its status as the largest Ethereum holder organization.

Whale chart: Ascending triangle targeting $4,000

On the daily chart, Ether has formed a clear ascending triangle pattern. The breakout of the long-standing downtrend line on Tuesday has generated an optimistic signal for the next move.

Currently, ETH/USD is trading around $3,140, up 20% from the November low of $2,621. The nearest breakout target is to surpass the triangle’s resistance at $3,250.

If the breakout succeeds, the next price target is forecasted to be around $4,020, representing a 28% increase from the current position. However, the recovery momentum may face resistance in the $3,350–$3,550 zone, where the 50-day and 100-day SMA lines are currently converging.

The next major overhead barrier is the 200-day SMA at $3,800, while the Relative Strength Index (RSI) has risen from oversold levels of 28 to 50, indicating increasing bullish momentum.

Technical signals support the upward wave

Unlike previous attempts where Ethereum challenged resistance levels, this time the simultaneous appearance of whales and large organizations opening long positions creates a different scenario. Ethereum surpassing $3,000 and holding above it demonstrates strong support from investors.

The ascending triangle whale pattern combined with improving technical indicators suggests the market is preparing for a major turning point. With whales and organizations aligned, the $4,000 target is not just a fantasy but a realistic possibility in the next cycle.