ETH Whale Move Just Hit the Market: Will Ethereum Hold Its Rise?

ETH Whale Move Expands a Major Short Position Amid ETH Price Recovery

Why is everyone suddenly watching Ethereum again? According to Onchain data, a major ETH Whale Move has kicked off new market discussions after a trader who already made $11 million shorting ETH added another $4 million USDC into HyperLiquid. 

This fresh capital was used to increase a 25x leveraged Ethereum short now valued at $34.83 million, with a liquidation level at $3,587.25. While this trader is betting heavily on a drop, the cryptocurrency itself is showing early signs of stabilization as the price tries to recover from a sharp monthly decline.

Source: Onchain Lens X (formerly Twitter) 

ETH Whale Move and Market Impact

The new whale activity comes as the currency trades around $3,043, up 3.74% in the last 24 hours. This rise makes the short position riskier because it is slowly regaining strength. The chart shows a steady recovery after several weeks of selling pressure, and despite one investor going short, broader investors are actually buying strongly.

Adding to the shift in sentiment, ETH ETFs have returned to inflows after a full week of outflows.
According to Sosovalue data:

• Nov 25: +$78.58M

• Nov 24: +$96.67M

• Nov 21: +$55.71M

That’s $230M+ flowing back into ETH ETFs while the digital currency is still down 25% this month. This turn from outflows to inflows suggests that larger investors are slowly stepping back in, even with price weakness.

Technical Breakout Strengthens the Bullish Case

As per the coinmarketcap ETH price recently broke above the 61.8% Fibonacci level at $3,217 and climbed past the 100-hour SMA near $3,000. Breaks like these often attract new buyers and increase pressure on short positions.

Source: CMC

On the technical indicators:

• MACD has flipped positive, showing improving upward momentum.

• RSI sits near 51, which is neutral and gives it room to move higher without being overbought.

If it manages to hold above $3,120, the next area traders are watching is around $3,350. The chart does not show over-excitement, but it does show early stabilization, something the market has been waiting for after the sharp drop earlier in the month. 

Whale Accumulation Adds Fuel to the Recovery Attempt

Even though one trader is aggressively shorting, the larger trend points toward accumulation. Over the past week, large investors collectively bought more than 138,345 coins (around $420 million). BitMine alone added $82 million worth of ETH, bringing their total holdings close to 3.6 million of this digital asset.

This type of steady spot buying is important. Unlike leveraged trades, spot accumulation shows long-term confidence and usually provides stronger price support. The combination of ETF inflows and whale accumulation is helping keep it stable even as retail sentiment remains cautious.

Ethereum Price Prediction: What's Next?

Right now, It is holding steady above the key $3,000 support level. 

• If it manages to stay above $3,131, it could climb toward $3,350.

• With more momentum, the next major resistance sits around $3,644. 

• Conversely, if it falls below $3,000, it might test the lower support near $2,880. 

For now, Ethereum seems to be slowly recovering, helped by whale buying, returning ETF inflows, and improving technical indicators.

Disclaimer: This article is for informational purposes only, not a financial advice, please do your own research before investing in crypto markets.