Ethereum is showing renewed strength after several days of intense selling pressure and widespread uncertainty across crypto markets. After falling significantly below the $3,300 level, the bulls are now trying to reclaim $3,600, with the next major target set at $4,000, a level that, if achieved, would confirm a change in market momentum.
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Amid this recovery effort, key on-chain data highlights surprising moves by one of the market’s most-watched traders, the so-called Anti-CZ Whale. The investor gained notoriety for shorting ASTER shortly after Zhao Changpeng (CZ), the former CEO of Binance and one of the most influential figures in the crypto industry, publicly announced his intention to buy ASTER. Whale’s timely short sales proved to be highly profitable, further enhancing his reputation as a contrarian yet accurate market player.
Now, this same whale has become bullish on Ethereum, opening a significant long position after shorting ETH last week. This move signals growing confidence in Ethereum’s potential for recovery and could signal an upcoming market reversal. As sentiment begins to stabilize and liquidity begins to return to the major altcoins, Ethereum’s price behavior over the next few days will be critical in determining whether this rebound develops into a sustained uptrend.
Anti-CZ whales turn bullish on Ethereum
According to new on-chain data shared by Lookonchain, the trader known as the anti-CZ Whale once again demonstrated sharp market timing. After shorting Ethereum (ETH) during last week’s market correction, whales have now turned bullish, taking significant long positions reflecting growing confidence in the asset’s recovery.
The data revealed that the whale currently holds 32,802 ETH worth approximately $119.6 million, with unrealized gains of more than $15 million to date. This strategic shift comes shortly after Ethereum rebounded from recent lows around $3,200, suggesting that traders were expecting a rescue rebound as selling pressure began to ease.
What makes this move even more significant is that anti-CZ whales still maintain profitable short positions in other assets, most notably ASTER and PEPE. This indicates a selective and tactical approach rather than broad market changes. While his ETH has long been consistent with improving sentiment around Ethereum, other short stories suggest caution against more speculative altcoins.
Historically, anti-CZ whales have earned a reputation for trading against the dominant narrative, such as their successful short on ASTER after former Binance CEO Changpeng Zhao (CZ) tweeted about buying the token. Therefore, his recent move against ETH could indicate that smart money is starting to move back into high-conviction assets.
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ETH price analysis — signs of short-term recovery
Ethereum price action on the 4-hour chart shows a notable recovery following last week’s sharp decline. ETH saw strong buying interest after falling below $3,300 and has since rebounded towards the key short-term resistance near $3,600. This rally coincides with an increase in trading volume, suggesting renewed confidence among bulls after several days of panic-driven selling.
This structure is currently showing early signs of a potential trend reversal, as Ethereum has formed a short-term high-low pattern with buyers defending the $3,350 to $3,400 support zone. If this momentum continues, the next target for the bulls will be near the $3,800 level, where the previous breakdown occurred. A clear break and close of this level would confirm bullish continuation towards the $4,000 mark.
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However, ETH still faces challenges. The overall market remains fragile, and the asset has yet to regain its 200-period moving average, which currently acts as dynamic resistance. Failure to maintain momentum above $3,600 could lead to renewed selling pressure and a retest of the support near $3,250.
Featured image from ChatGPT, chart from TradingView.com