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Ethereum rebounds 5% but whale activity shows mixed bets on price direction.

Technical Signals
08 Jun 2026
AMBCrypto
View Source
Neutral
pluang ai news

Ethereum rose nearly 5% after dropping to around $1,600, but this rebound appears more like a temporary relief than a full recovery. Large traders, or whales, show mixed sentiment: one major trader increased a short position to $101 million expecting further declines, while another long-term holder repurchased over 60,000 ETH at lower prices, seeing value near current levels. Despite some buying, over $2 billion in leveraged long positions clustered below $1,600 could trigger more downside before a sustained recovery. ETH currently trades near a key support zone, with technical indicators hinting bearish momentum may be weakening but not yet reversed.

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