Whale’s $392M Ethereum Long Position Faces Risk Amid Market Uncertainty

Ethereum has fallen to $3,160 after the FOMC meeting resulted in a 25 basis point interest rate cut. Jerome Powell's comments on weaker growth and persistent inflation have raised concerns about stagflation, affecting market sentiment.

A major whale continues to increase his Ethereum holdings despite market volatility, currently holding 120,094 ETH valued at approximately $392.5 million.
The whale's position has a liquidation price of $2,234.69, posing significant risk amid potential macroeconomic shifts.
Extreme leverage in the market could lead to sharp price movements and risk cascading liquidations if volatility spikes.

ETH Testing Resistance While Momentum Weakens

Ethereum retraced to $3,196, failing to stay above $3,300, indicating weakening bullish momentum. The 200-day moving average acts as resistance, preventing a decisive upward move. A close above this level is necessary to change the current downtrend.

The 50-day moving average shows ongoing selling pressure, while the 100-day average remains above current prices, indicating strong overhead resistance.
Volume has dropped since early December, suggesting waning buyer strength as ETH approaches resistance levels.
ETH remains in a mid-term downtrend with lower highs and lows since September.
If ETH cannot reclaim the 200-day average soon, it may retest the $3,050–$3,100 support range. A move above $3,350 could lead to $3,500 but requires renewed momentum.