Ethereum regained the $2500 mark, and the whale threw $100 million to go long.
Ethereum has rebounded to around $2500 after experiencing a correction to around $2440 on September 4. Currently, the US$2,515 - 2,525 range has become a key resistance level. According to reports, a "whale" account established a long position in Ethereum worth $100 million, with a strong price of approximately $2345. Analysts are optimistic about higher potential target prices, including $3550 or even more than $15000, while Ethereum's Relative Strength Index (RSI) and MACD indicators remain positive.
Analysts track the next price trend of Ethereum
According to cryptocurrency analyst Crypto Patel, Ethereum's long-term trend may exceed $15000. He sees the sharp decline as a potential accumulation area and refers to the previous entry range of $1,500 - 1,600. Another analyst, Gerla, focused on Ethereum's recent price structure between $2300 and $2600. He pointed out that Ethereum formed a bottom pattern after recovering from a low of $1750. However, Gerla identified $3550 as the main resistance level above the current range. He also noticed large volume between $2900 and $3400. According to Gerla, reoccupying this volume area would change the price structure. Currently, he recommends focusing on the volatility range of $2,300 - 2,600.
Whales establish a US$100 million long position in Ethereum
Ted reported that a certain "whale" had opened large long positions in both Ethereum and Bitcoin. It is reported that the total value of Ethereum positions is US$100 million, while the total value of Bitcoin positions is US$47.9 million. The strong price of Ethereum in the report is US$2345, while the strong price of Bitcoin is US$72216. The move to build a position came after Ethereum's latest rally, when ETH was trading close to $2497. The market started on September 4 when ETH fell to the range of $2,440-$2,450, and then buyers pushed ETH above $2475, which was close to $2500. The rally eventually touched the $2,515-$2,525 range, followed by profit-taking.
Ethereum tests resistance level, momentum indicator cools
The $2515 -2525 range is the current direct resistance area. If it breaks through this area, the next target will be $2550;$2475 is the near-term support. If it falls below this level, US$2450 will become the next support area. If it falls below $2450, the market focus will shift to the $2,425 - 2,400 range.

Source: TradingView
Meanwhile, the RSI indicator is at 58.70, below its signal average of 64.80. However, the RSI remains above 50 and the MACD indicator remains positive. The MACD line value is 10.41 and the signal line value is 9.57. The histogram value is 0.84, which remains positive, but the gap is relatively small.

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