Matrixport Whale: 120K ETH Long Hits $69M Loss

Matrixport-linked whale records over $69M floating loss on 120,000 ETH long position at 15-20x leverage while ETH trades below $1700 and has already paid $1.86M in funding fees.

Price action on the 4h chart shows ETH at $1657.06 testing lower Bollinger support at $1657.2 while EMA50 sits at $1917.1 and EMA200 at $2106.26 as hard resistance, RSI(14) at 19.47 oversold and MACD at -69.1 confirming death cross; this confluence points to short-term volatility exhaustion that often precedes a relief bounce toward the 50-EMA before any deeper continuation lower, shaping the next ETH price prediction and leveraged position risks in perpetual futures funding rates.