Ethereum whale expands $13M long position despite $33M losses

An Ethereum whale is making headlines after boosting a highly leveraged long position, even after suffering over $33 million in unrealized losses. The trader increased his 25x leveraged $ETH long to 6,325 Ether, worth roughly $13 million, and deposited an additional $287,913 USDC into HyperLiquid. This move signals strong conviction among some derivatives traders, even as ETH struggles to break past resistance levels.

Bulls dominate Binance positioning

On Binance, top traders remain heavily bullish. At press time, long accounts made up 78.38% of positions, while shorts held just 21.62%, pushing the long/short ratio to 3.63. This imbalance shows leveraged traders still expect upside, despite the price weakness. However, crowded long positioning historically increases the risk of sharp liquidations when volatility spikes near key resistance.

Ethereum struggles below major resistance

Ethereum continues to trade between support at $2,036 and resistance near $2,419. The price has repeatedly defended the lower zone but failed to gain stronger momentum above. The daily chart shows weakening structure, with ETH rejecting higher prices earlier this month. Still, sellers have not managed a decisive breakdown. The Directional Movement Index (DMI) signals bearish control, with ADX near 30 and the -DI indicator at 25.58, well above the +DI reading of 9.98.

Ethereum Funding Rates stay strongly positive

Funding rates remain firmly positive, near 0.0162, up more than 55%. This means derivatives traders are willing to pay premiums to maintain long positions, reflecting speculative confidence. But persistently high funding rates also raise the chance of liquidation cascades if price momentum falters.

In short, Ethereum is drawing aggressive leveraged bets despite uncertain price action and bearish trend signals. While Binance traders heavily favor longs and funding rates point to optimism, ETH remains trapped below the $2,419 resistance. If buyers can reclaim higher levels, recovery could strengthen. If not, excessive leverage may lead to another correction toward support.

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