Overview
- ETH trades in the mid-$3,000s near the $3,350–$3,500 zone, where the weekly 50 EMA is being tested in what some analysts call a make-or-break area.
- Derivatives data show $108.7 million in ETH liquidations over 24 hours, split roughly evenly between longs and shorts, signaling unwinding leverage.
- The whale known as 66kETHBorrow moved another $120 million USDT borrowed from Aave to Binance after accumulating about 385,718 ETH worth roughly $1.33 billion since early November.
- Arkham Intelligence separately tracked a large buyer who added more than $1.38 billion in ETH over ten days and drew $270 million from Aave, highlighting continued leveraged accumulation.
- Analysts say holding this support could set up a move toward $3,800–$4,000, while a breakdown would point to $2,800–$3,100 as the next likely downside area with resistance seen near $3,650–$3,660.