Ethereum Price Prediction: Top Eth Bulls Sit On $7.6B Paper Loss As Price Falls Below $2,400

What Happened

As ETH has declined 19% over the past three days to fall below the $2,400 level, on-chain data shows several high-profile investors who accumulated aggressively near cycle highs are now collectively holding an estimated $7.6 billion in unrealized losses.

This raises key questions about whether the current pullback is a temporary reset or signals a bearish trend reversal.

On-chain data from Lookonchain reveals that Tom Lee’s Fundstrat-affiliated entity has continued accumulating during the weakness, acquiring an additional 41,788 ETH worth approximately $96.95 million during the decline.

If ETH reclaims the $2,800 level and resumes a bullish trajectory, presale projects like Maxi Doge (MAXI) could attract capital from investors pursuing high-ROI opportunities in the expanding memecoin sector.

Market Context

Ethereum’s price prediction reveals that sustained downside pressure is exposing the magnitude of losses across some of Ether’s most prominent bullish positions.

Among the most major positions is Fundstrat chairman Tom Lee, whose entity reportedly accumulated more than 4.24 million ETH at an average price near $3,854.

At current market levels, this translates into a paper loss of roughly $6.8 billion.

Despite deepening drawdowns, whale behavior suggests the market remains divided between conviction buying and forced risk reduction.

A relief bounce toward $2,700–$2,800 is possible, but that area now represents major resistance and must be reclaimed with strong volume to shift momentum.

Why It Matters

This confirms the broader medium-term trend remains corrective, and upside moves will likely encounter resistance rather than immediately transitioning into sustained rallies.

Details

Tom Lee’s Fundstrat Down $6.8B on ETH Position

Meanwhile, trader Garrett Jin, associated with BitcoinOG, has experienced major drawdowns following a large BTC-to-ETH rotation and subsequent leveraged exposure.

On-chain records indicate Jin swapped 35,991 BTC for 886,371 ETH, realizing losses exceeding $770 million.

A long position of 223,340 ETH was subsequently liquidated, resulting in an additional $195 million loss.

Adding to the pressure, Trend Research’s Jack Yi is estimated to be down approximately $680 million after purchasing 651,000 ETH at an average cost close to $3,300.

Technical Analysis: Relief Rally Targets $2,700–$2,800 Resistance

The Ethereum daily chart shows that ETH dropped decisively from the $2,800 resistance area and is currently reacting around the $2,300–$2,400 region, which represents key long-term support.

From a trend and structure perspective, Ethereum remains below all key moving averages, with the 20-day, 50-day, 100-day, and 200-day EMAs stacked bearishly overhead.

However, the reaction from $2,400 support carries technical significance. As long as this zone continues holding on a daily closing basis, the current move can be interpreted as a higher-timeframe pullback rather than a complete trend reversal.

A confirmed break above $2,800 would open the path for movement toward the $3,200–$3,400 region, where upper moving averages and prior supply converge.

On the downside, failure to maintain the $2,400 support would materially weaken the structure and expose Ethereum to a deeper decline toward the next major support near $1,800.

ETH Down 19%—But This Memecoin Presale Just Hit $4.5M

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