Trader Faces $128 Million Loss Due to Ethereum Trades
- Massive Losses: Trader Garrett Jin, linked to the large investor known as the 'October 10 Whale,' has suffered losses totaling $128 million due to Ethereum trades, highlighting the high-risk nature of the crypto market.
- Potential Profit Loss: Bubblemaps data indicates that Garrett Jin could have made over $70 million in profit had he not engaged in Ethereum trading, underscoring the significant impact of his trading decisions.
- Market Dynamics: The investor previously made approximately $100 million in profits from short positions on Bitcoin, but suffered losses exceeding $200 million due to high-volume long trades on Ethereum, reflecting the uncertainty and risks in the market.
- Capital Movement: A wallet associated with Garrett Jin recently transferred millions to the decentralized derivatives platform Hyperliquid, purchased about $10 million worth of HYPE, and opened a $38 million short position on Zcash, indicating his active engagement in the market.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 6 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0399 | 0.0489 | 0.0548 | 0.0639 | 0.0698 | 0.0788 | 0.0848 |
| Fibonacci | 0.0489 | 0.0546 | 0.0581 | 0.0639 | 0.0696 | 0.0731 | 0.0788 |
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