Ethereum Dominance Tentatively Reclaims Resistance as ETH Price Recovers Above $3,300

The chart reflects a recovery from a sharp washout earlier in the week. ETH dipped into the $3,090 to $3,150 range, clearing late-long positions and capturing deeper bids. This created a demand pocket that helped drive the subsequent rally above $3,270. The price then stabilized above the $3,300 zone, forming a fresh higher-low structure that signaled intent from buyers.

The green acceptance zone on the current chart suggests the market is comfortable at elevated levels. With circulating supply stable near 120.69 million ETH and turnover accelerating, the near-term structure favors continuation if current momentum holds. The next visible liquidity areas sit around $3,380 and $3,450.

Whale Positioning Adds Momentum to Market Behavior

A notable development emerged from whale activity shared by Frej0 Web3. A holder closed a 1,654 ETH spot position valued at roughly $5.49 million. The capital was moved to a derivatives venue to open a 7x leveraged long worth 11,543 ETH, indicating a shift toward aggressive positioning.

This transition from spot exposure to leveraged participation reflects stronger short-term expectations.The big market participants tend to change positioning before directional expansions, and such a course of action goes with the recent structural recovery on the ETH chart.

These signs have been met with fear by the larger market. Despite the resilience of ETH, it would still need to sustain leading above 12.78% in order to reaffirm leadership. Until then, the market reflects a split environment where price strength contrasts with selective rotation.