Hyperliquid: Whale Places $20M ETH Long Orders

Hyperliquid trader Long Loyalist deposited 4.9M USDC and placed fresh buy orders for 9.63K ETH valued at approximately $20M, according to Onchain Lens. The address 0x64b766b07362405a9cc19c2226490f3015929da9 already holds an existing long of 4.86K ETH worth $10.94M, carrying $4.63M in unrealized losses and a lifetime PnL of -$4.29M.

ETH trades at $2241.14 on the 4h chart inside a bearish structure defined by the EMA50 at $2349.62 and EMA200 at $2461.22, with MACD at -22.11 confirming the death cross. Price now tests the lower Bollinger Band support at $2244.35 while RSI sits at 34.59, leaving room for further downside before any relief. With price pinned against lower-band support and both EMAs acting as overhead resistance, a sustained break below $2244.35 would likely accelerate toward deeper liquidation zones before any macro-driven recovery attempt.