$ETH A well-known trader took a short position worth $60.8 million on Ethereum amid its recent gains.

Ethereum is struggling to surpass the resistance area at $2,750, which has caused price rejections in the past.

Whales continue to buy ETH in large quantities, as analysts indicate the possibility of consolidation or decline.

The price of Ethereum has surpassed $2,700, sparking cautious optimism among traders. However, a combination of whale accumulation and renewed interest in short selling from a prominent trader keeps sentiment balanced. With a resistance level forming at $2,750, Ethereum's next move may determine the trajectory of the broader altcoin market.