Machi Big Brother: ETH Longs Down to $290K

Machi Big Brother has seen his leveraged ETH long position built from the August rally nearly wiped out. The trader turned $150K into $12.3M in profits as ETH climbed from $1,900 to $2,500, but the recent slide from $2,800 to $2,400 triggered repeated stops that reduced the account to $290K.

He still holds 3,500 ETH longs on Hyperliquid. A further $30 drop to $2,393 would trigger full liquidation according to the on-chain data shared by @EmberCN.

Price action on the 4h chart shows ETH at $2,433.19 testing the lower Bollinger Band support at $2,446.11 while the RSI sits at 28.77 in oversold territory and the MACD registers a death cross at -17.59. With both the EMA50 at $2,555.51 and EMA200 at $2,576.72 acting as firm overhead resistance, any relief rally faces immediate selling pressure before the position can stabilize.