Hyperliquid Whale: Opens $39M ETH Short Position

Wallet 0xa2e on Hyperliquid opened a fresh 23,205 ETH short at 20x leverage valued at $39M and has already booked more than $3.65M in realized gains.

The address, created only recently, has toggled repeatedly between long and short exposure on the decentralized perpetuals venue.

Price action on the 4h chart shows ETH at $1682.85 inside the Bollinger Bands with upper resistance at $1697.28; the 50-EMA at $1689.17 acts as immediate overhead resistance while the 200-EMA at $1925.75 caps the broader structure. Momentum remains constructive after the MACD golden cross yet the neutral RSI at 55.44 leaves room for a quick test of lower-band support near $1636.97 before any sustained upside attempt.