A substantial long position in Ethereum valued at $60.63 million has recently been initiated by a significant trader. Utilizing 2x leverage, this position comprises 20,000 ETH, with an entry price of $3,040.92. At the snapshot time, Ethereum was trading around $3,030.90, reflecting a minor unrealized loss of $188,456.17. The trader has allocated $30.31 million in margin to support this position, with a liquidation level set at $1,190.78, indicating a willingness to endure considerable price fluctuations to maintain this trade.
Despite the current unrealized loss, the trader”s account indicates total profits of $14.38 million, as evidenced by an equity chart that spans several months. This suggests that the trader has made well-timed entries earlier in the quarter, as evidenced by the overall profit trajectory, which has shown steady growth since mid-November.
Currently, the account is fully allocated to Ethereum, with no short positions held. The margin usage stands at 81.3%, signifying that while a significant portion of capital is actively utilized, there remains some buffer available. The trade structure reveals a high exposure to Ethereum, yet with an ability to accommodate market fluctuations.
A separate analysis by Ali indicates that Ethereum maintains support above a trendline that has been in effect since 2022. Earlier this year, the price touched a support level near $1,800 before staging a recovery. Ali noted that the price remains above $3,000, suggesting that the bounce off the $1,800 zone is proving resilient. The chart further hints at a potential upward movement toward $4,600 and beyond, should Ethereum manage to break through existing resistance levels.
In a related analysis, CryptoRover shared a chart that juxtaposes Ethereum with the Russell 2000 ETF ($IWM). The data reveals that both assets have exhibited correlated movement through 2025. However, while the IWM has been trending toward its all-time highs, Ethereum has remained largely sideways, indicating a potential divergence in performance between the cryptocurrency and traditional equities.
