Autor Cointelegraph by Nancy Lubale

Most XRP investors are back in profit, increasing the chance for a rally to $2.24, but bulls must first hold the price above $1.40.

An Ethereum whale has opened a significant long position on Ether (ETH) worth $90.8 million, in what looks like a bold bet that the upside is not over for the top altcoin.Key takeaways:Ethereum whale opened a leveraged long position totaling $90.8 million.Ether price chart’s ascending triangle targets $3,230.Top traders open new ETH long positionsData from TradingView showed the ETH/USD pair trading at $2,280, or 32% higher than the $1,750 low reached on Feb. 6. Holding above $2,200, Ether offered some cause for optimism ahead of key volatility triggers.“Strong retail sales could push yields higher and delay Fed cuts, while weak data would fuel risk-on bets,” analyst AlphaBTC said in a Monday post on X, referring to the main macro drivers this week, adding:“Fed commentary and PMI data add growth signals, while geopolitical risks remain the wildcard catalyst for sudden volatility.”As market participants waited for the next catalysts, attention has shifted to a trader with an impressive track record, who has opened a long position worth about $90.8 million in ETH, with 20x leverage.Source: X/Ash CryptoAnalyst TAnotepad noted that another whale, 0x6C851, has opened a $61 million ETH long position at 20x leverage with entry around $2,303 on HyperLiquid.ETH whale position on HyperLiquid. Source: TAnotepadThese moves coincide with continued flows into spot Ethereum ETFs, which have recorded net inflows for seven consecutive days, totaling $426 million. Spot ETH flows chart. Source: SoSoValueMeanwhile, global Ethereum investment products recorded $328 million in inflows during the week ended last Friday.This reinforces the narrative that whales and institutions view the recent ETH price rebound above $2,400 as a promising move that may open the way toward $3,000.Ether’s ascending triangle targets $3,200 ETH price Ether’s price action has formed a classic ascending triangle on the daily chart, as shown below. The pattern will resolve once the ETH/USD pair breaks above the triangle’s resistance line at $2,400. If this happens, the price could rise by as much as the maximum distance between the triangle’s trend lines.That puts Ether’s breakout target at about $3,230, up by more than 41% from current price levels.ETH/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index has increased to 54, from oversold conditions at 18 on Feb. 6, suggesting increasing upward momentum.However, the breakout could be curtailed by resistance from the $2,350-$2,500 resistance zone, marked by the 50-day exponential moving average (EMA).Above that, the next major hurdle is the 200-day EMA at $2,640.Zooming out, analyst Micro2Macr0 said that a breakout from a multi-year ascending triangle could lead to a 60%-100% ETH price rally. ETH/USD weekly chart. Source: X/Micro2Macr0 As Cointelegraph reported, ETH price closing above $2,400 resistance, puts it on the path for a recovery toward $2,800, then to $3,050 over the next few days or weeks.

An Ethereum whale has opened a significant long position on Ether (ETH) worth $90.8 million, in what looks like a bold bet that the upside is not over for the top altcoin.Key takeaways:Ethereum whale opened a leveraged long position totaling $90.8 million.Ether price chart’s ascending triangle targets $3,230.Top traders open new ETH long positionsData from TradingView showed the ETH/USD pair trading at $2,280, or 32% higher than the $1,750 low reached on Feb. 6. Holding above $2,200, Ether offered some cause for optimism ahead of key volatility triggers.“Strong retail sales could push yields higher and delay Fed cuts, while weak data would fuel risk-on bets,” analyst AlphaBTC said in a Monday post on X, referring to the main macro drivers this week, adding:“Fed commentary and PMI data add growth signals, while geopolitical risks remain the wildcard catalyst for sudden volatility.”As market participants waited for the next catalysts, attention has shifted to a trader with an impressive track record, who has opened a long position worth about $90.8 million in ETH, with 20x leverage.Source: X/Ash CryptoAnalyst TAnotepad noted that another whale, 0x6C851, has opened a $61 million ETH long position at 20x leverage with entry around $2,303 on HyperLiquid.ETH whale position on HyperLiquid. Source: TAnotepadThese moves coincide with continued flows into spot Ethereum ETFs, which have recorded net inflows for seven consecutive days, totaling $426 million. Spot ETH flows chart. Source: SoSoValueMeanwhile, global Ethereum investment products recorded $328 million in inflows during the week ended last Friday.This reinforces the narrative that whales and institutions view the recent ETH price rebound above $2,400 as a promising move that may open the way toward $3,000.Ether’s ascending triangle targets $3,200 ETH price Ether’s price action has formed a classic ascending triangle on the daily chart, as shown below. The pattern will resolve once the ETH/USD pair breaks above the triangle’s resistance line at $2,400. If this happens, the price could rise by as much as the maximum distance between the triangle’s trend lines.That puts Ether’s breakout target at about $3,230, up by more than 41% from current price levels.ETH/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index has increased to 54, from oversold conditions at 18 on Feb. 6, suggesting increasing upward momentum.However, the breakout could be curtailed by resistance from the $2,350-$2,500 resistance zone, marked by the 50-day exponential moving average (EMA).Above that, the next major hurdle is the 200-day EMA at $2,640.Zooming out, analyst Micro2Macr0 said that a breakout from a multi-year ascending triangle could lead to a 60%-100% ETH price rally. ETH/USD weekly chart. Source: X/Micro2Macr0 As Cointelegraph reported, ETH price closing above $2,400 resistance, puts it on the path for a recovery toward $2,800, then to $3,050 over the next few days or weeks.