Abraxas Capital: Buys 16,554 ETH Amid Hyperliquid Shorts

Abraxas Capital purchased another 16,554 ETH worth $39.8M in spot over the past 12 hours while its two Hyperliquid hedging accounts maintain 120,178 ETH ($291.4M) in short positions.

Price action shows ETH at $2432.0 testing the EMA50 level at $2422.54 as concrete support within a bullish trend structure above the EMA200 at $2212.8, with MACD registering a golden cross at -13.64 and RSI at 51.09 remaining neutral; the position sits inside the Bollinger Bands, positioning the upper resistance at $2493.95 as the next volatility target before any pullback to the 50-EMA.