#ETH巨鲸扩大持仓 An extreme signal has appeared on-chain — a certain whale address has poured in 1 million USDC to open a 25x long order on ETH, with the liquidation price locked at 2628 USD. Currently, ETH is still hovering around 2795, just 170 points away from the liquidation line. What will happen if this level of position drops to zero?

The technical analysis has already provided the answer. The long and short boundary line at 2813 acts like a ceiling, with the price being pushed back each time it attempts to rise. The MACD green bars have expanded to -13.71, clearly indicating that the bearish momentum is dominant. The three lines of the RSI are all clustered in the low range of 36-47, showing no signs of a rebound.

The more dangerous aspect is: the whale's liquidation price is 2628, which is exactly $100 below the intraday support of 2728. If this level is breached, chain liquidations could directly crash the market. The stop-loss orders of high-leverage players will fall like dominoes, one after another.

What should we do now? Don't rush to catch the falling knife. The risk-reward ratio at the price level of 2795 is extremely poor, and it's better to stay in cash and observe rather than forcefully catch the falling knife. If you really want to position, at least wait until it breaks below 2728 to discuss — by then, panic selling might have already created a temporary low, giving main funds a chance to enter and buy. Of course, the premise is that you can withstand the possibility of further declines.

Tonight's movement of the US stock market will be a key variable. If the Nasdaq takes another dive, ETH breaking 2700 is almost a certainty. That said, the most desperate times in the market are often the night before a V-shaped reversal.

Which side are you on? Waiting for liquidation or betting on a rebound?