Ethereum price predictions reveal that sustained downward pressure is exposing the magnitude of losses on some of Ethereum’s most prominent bullish positions.
As ETH has fallen 19% over the past three days, falling below the $2,400 level, on-chain data shows that several high-profile investors who accumulated aggressively around the cycle high are now sitting on an estimated combined unrealized loss of $7.6 billion.
This raises the important question of whether the current decline is a temporary reset or signals a reversal of the bearish trend.
Tom Lee’s Fundstrat loses $6.8 billion in ETH positions
Among the most prominent positions is Fundstrat Chairman Tom Lee, whose organization has reportedly amassed more than 4.24 million ETH at an average price of nearly $3,854.
At current market levels, this equates to a paper loss of approximately $6.8 billion.
Meanwhile, Garrett Jin, a trader associated with BitcoinOG, experienced a significant drawdown after a massive rotation from BTC to ETH and subsequent leverage exposure.
On-chain records show that Jin exchanged 35,991 BTC for 886,371 ETH, realizing a loss of over $770 million.
A long position of 223,340 ETH was subsequently liquidated, resulting in an additional loss of $195 million.
Adding to the pressure, Jack Yee of Trend Research purchased 651,000 ETH at an average cost of nearly $3,300, which is estimated to have cost him around $680 million in losses.
Despite the deepening drawdown, the whales’ behavior suggests the market remains split between confidence buying and forced risk reduction.
Lookonchain’s on-chain data reveals that Tom Lee’s Fundstrat-related entities continued to accumulate during the downturn, acquiring an additional 41,788 ETH worth approximately $96.95 million during the downturn.
Technical Analysis: Relief Rally Targets $2,700-$2,800 Resistance
Ethereum’s daily chart shows that ETH has decisively fallen from the $2,800 resistance area and is now reacting near the key long-term support area of $2,300-2,400.
From a trend and structure perspective, Ethereum remains below all major moving averages. 20 days, 50 days, 100 days, 200 days EMA They piled on top of each other in a weak posture.
This confirms that the broader medium-term trend is still corrective, with any upward movement likely to encounter resistance rather than immediately turning into a sustained rally.
However, the reaction from the $2,400 support makes technical sense. As long as this zone continues to hold on a daily close basis, the current move can be interpreted as a rebound on the higher time frame rather than a complete trend reversal.
relief bounce Towards $2,700-$2,800 It is possible, but that area is currently experiencing significant resistance and would need to be recovered with strong volume to change momentum.
A confirmation above $2,800 would pave the way for a move towards the $3,200-$3,400 area where the upper moving average and advance supply converge.
On the downside, failure to hold the $2,400 support would weaken the structure significantly and expose Ethereum to an even deeper decline towards the next major support. Nearly $1,800.
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The article Ethereum Price Prediction: Top ETH bulls brace for $7.6 billion bill loss as price dips below $2,400 appeared first on Cryptonews.
