Ethereum has regained the $3,150 level after a volatile period, offering a rare sign of strength in an otherwise uncertain market. The broader crypto landscape remains sharply divided, with some analysts arguing that ETH and the rest of the market are still facing a downward continuation, potentially setting new local lows, while others believe this correction is simply a reset before a much larger bull cycle – potentially stretching into 2026.
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Yet one signal stands out clearly in the noise: smart whales are unanimously going long on ETH. Data from the chain shows that some of the most profitable and consistent whale traders – each with tens of millions in realized profits – have opened substantial long positions, collectively exceeding hundreds of millions of dollars. Their coordinated behavior signals confidence that Ethereum’s recent lows represent opportunity rather than danger.
This alignment among the top-performing whales introduces a compelling counterbalance to bearish narratives. While retail sentiment remains fragile, the most advanced market participants appear to be positioning themselves for a bigger move forward. With Ethereum stabilizing above $3,150, the question becomes whether the condemnation of whales will prove early or correct.
Top performers charge Ethereum
According to Hyperdash facts shared by Lookonchain, some of the market’s most successful and influential whales are aggressively accumulating Ethereum, sending a strong signal that high-conviction players expect upside.
One of the most notable is BitcoinOG, the trader widely credited for shorting the market during the violent 10/10 crash, a move that earned him significant credibility. With a total realized PNL of $105 million, BitcoinOG is now firmly positioned on the bullish side, with 54,277 ETH worth approximately $169.48 million.
Another major player is the well-known Anti-CZ whale, named for its historical pattern of taking the opposite side of positions favored by Binance founder Changpeng Zhao. With an impressive total PNL of $58.8 million, this whale currently has a long position of 62,156 ETH – a huge position of $194 million. His trades have often been early indicators of the direction of the broad market, further reinforcing this shift toward bullish exposure.
Finally, pension-usdt.eth, a consistently profitable whale address with $16.3 million in realized profits, long 20,000 ETH worth $62.5 million.
Taken together, these positions reflect a unified view among the top-performing whales: despite market uncertainty, they are positioning for the power of Ethereum.
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The weekly structure shows early signs of stabilization
Ethereum’s weekly chart shows a market trying to regain its footing after a sharp multi-week decline from the $4,500 region. The recent recovery from $3,150 is a meaningful development as this level closely aligns with previous weekly support from mid-2024 and sits just above the 50-week moving average – an area that often acts as a trend-defining zone. ETH briefly fell below this region during the November sell-off, but buyers stepped in aggressively, producing a strong weekly surge that signals demand at lower levels.
Despite this recovery attempt, ETH remains below key resistance levels. The 20- and 100-week moving averages are above current price and converging, creating a zone of potential rejection unless momentum strengthens. For now, ETH is trading in a transition structure: no longer aggressively down, but no confirmed bullish reversal on high time frames yet.
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Volume patterns also support this interpretation. Selling volume has declined compared to the capitulation phase, while the recent green candles show moderate but steady buying interest, indicating accumulation rather than full-out risk-taking.
If ETH can achieve consecutive weekly closes above $3,200–$3,300, the chart opens the door for a retest of the $3,600–$3,800 range. However, if you fail to hold $3,150, you risk another move towards $2,800 support.
Featured image of ChatGPT, chart from TradingView.com