Ethereum price battles as whales trade $53 million positions amid $1,770‑$1,800 range

Two large investors opened opposing $53.49 million leveraged positions on Ethereum (ETH). One trader entered a 20‑times short on 30,000 ETH, reporting a profit of $846.4 k, while another took a 10‑times long on the same amount, currently down $823.1 k. Their opposite bets highlight a fierce bull‑bear fight.

ETH is trading around $1,793, holding above the $1,770 support level. Analysts note that a decisive break above $1,820 would restore bullish confidence, whereas a slip below $1,770 could trigger a pullback toward $1,700. The TD Sequential indicator has issued a sell signal, suggesting possible exhaustion of the recent rally. Derivatives metrics show sell‑side dominance: the taker‑buyer ratio is below 1 and futures netflow has been negative, indicating bearish pressure.

Technical charts show RSI near 38, MACD in negative territory but forming higher lows, and price oscillating between VWAP and the 20‑day SMA, suggesting a holding pattern. On‑chain data reveal Ethereum exchange reserves at multi‑year lows, a supply shock that could support price gains. Market analyst Tom Lee projects Ethereum’s market value could rise to $5 trillion, valuing ETH between $1 trillion and $5 trillion in the coming years.