Key Points:
Whale opens $11.15 million ETH long with 25x leverage at $2,758.
ETH price rises to $2,850, pushing unrealized profit to $366,000.
Options market shows bullish skew as traders bet on near-term upside.
Bull flag breakout pattern targets a 30% ETH rally to $3,670.
A high-leverage Ethereum long trade signals mounting bullish sentiment as ETH price breaks out of a key technical pattern, potentially setting the stage for a 30% rally toward $3,670 by the end of June.
$11M ETH Long Trade Fuels Bullish Outlook
On June 10, a crypto whale opened a $11.15 million long position on Ethereum using 25x leverage, entering at an average price of $2,758.35. The leveraged position totals 4,000 ETH, with a liquidation price of $2,466, suggesting strong conviction in short-term upside despite a narrow risk margin.
As Ethereum price climbed to $2,850 on June 11, driven by optimism over a possible Fed rate cut, the whale's trade entered $366,000 in paper profit, according to onchain tracking.
Ethereum Options Skew Turns Sharply Bullish
Ethereum’s options market is showing signs of growing trader confidence. The 25-delta skew—a metric reflecting demand for bullish vs. bearish options—has shifted further into negative territory, indicating increased appetite for call options.
1-week skew: Dropped from -2.4% to -7.0%
1-month skew: Declined from -5.6% to -6.1%
This steep drop reflects short-term bullish positioning, suggesting that traders expect additional ETH upside in the coming days.
ETH Breaks Bull Flag, Targets 30% Rally to $3,670
Ethereum’s price structure shows a clear breakout from a bull flag pattern, a continuation formation that typically signals further upside. The move follows a 100% recovery from April lows, fueled by the Pectra upgrade and Ethereum Foundation restructuring.
Technical projections based on the pattern indicate a 30% rally toward $3,670, aligning with bullish sentiment from both leveraged whales and options traders.
Broader ETH Price Forecasts: $4K and Beyond?
Analysts remain upbeat about Ethereum’s mid-term potential:
Standard Chartered expects ETH to reclaim $4,000 in 2025.
Fractal models comparing ETH to historical gold price movements suggest possible targets of $5,000 to $6,000 in the next major cycle.
With improving network fundamentals, rising institutional interest, and favorable macro trends, Ethereum’s momentum appears to be building for a sustained breakout—if bulls can maintain control above the $2,850 level, according to Cointelegraph.
