Ethereum’s Bounce Hits a Wall as Whales Bet on the Downside

Ethereum’s rebound has stalled under a dense cluster of resistance on the 4-hour chart. Large traders have been cutting long exposure and leaning toward the short side. Leverage across futures markets remains high enough to fuel a sharp move in either direction. Shrinking ETH balances on Binance offer a partial counterweight to the bearish positioning. Ethereum is trading near $2,545 on Monday, October 12, after its recovery from last week’s sell-off stalled in the $2,560 to $2,570 zone, while derivatives data flagged by Joao Wedson of analytics platform Alphractal in an October 10 post suggests large traders have been cutting…