Ethereum is showing renewed strength after days of intense selling pressure and widespread uncertainty across the crypto market. Following a sharp drop below the $3,300 level, bulls are now attempting to reclaim $3,600, with the next major objective set at $4,000 — a level that could confirm a shift in market momentum if conquered.
Amid this recovery effort, key on-chain data highlights a surprising move from one of the market’s most closely watched traders — the so-called Anti-CZ Whale. This investor gained notoriety for shorting ASTER shortly after Changpeng Zhao (CZ) — the former CEO of Binance and one of the most influential figures in crypto — publicly mentioned buying it. The whale’s timely short turned out to be highly profitable, reinforcing their reputation as a contrarian yet precise market player.
The data reveals that the whale currently holds 32,802 ETH, valued at roughly $119.6 million, with more than $15 million in unrealized profit so far. This strategic pivot came shortly after Ethereum’s rebound from its recent lows near $3,200, suggesting that the trader anticipated a relief rally as selling pressure began to ease.
What makes this move even more significant is that the Anti-CZ Whale is still maintaining profitable short positions in other assets — notably ASTER and PEPE. This indicates a selective, tactical approach rather than a broad market shift. His ETH long aligns with improving sentiment around Ethereum, while the other shorts suggest caution toward more speculative altcoins.
Historically, the Anti-CZ Whale has earned a reputation for trading against major narratives — including his successful short on ASTER after Changpeng Zhao (CZ), Binance’s former CEO, tweeted about buying the token. His latest move toward ETH could therefore signal that smart money is beginning to rotate back into high-conviction assets.
Ethereum’s price action on the 4-hour chart shows a notable recovery following last week’s sharp decline. After dipping below $3,300, ETH found strong buying interest and has since rebounded toward the $3,600 region — a key short-term resistance level. This rebound coincides with increased trading volume, suggesting renewed confidence among bulls after several days of panic-driven selling.
The structure now shows early signs of a potential trend reversal, as Ethereum has formed a short-term higher low pattern, with buyers defending the $3,350–$3,400 support zone. If momentum continues, the next target for bulls lies near $3,800, where previous breakdowns occurred. A clear break and close above that level would confirm a bullish continuation toward the $4,000 mark.
However, ETH still faces challenges ahead. The broader market remains fragile, and the asset is yet to reclaim its 200-period moving average, which currently acts as dynamic resistance. Failure to sustain momentum above $3,600 could lead to renewed selling pressure, potentially retesting support near $3,250.
Featured image from ChatGPT, chart from TradingView.com
