According to a recent report on his October market review, DonAlt opened a large ETH long around $1,878 in mid-August and has since shifted from actively trading the move to a HODL strategy.
He reportedly plans to take profit on most of the position near $3,000 after Ethereum broke out of a weekly range that had capped price between roughly $2,300 and $2,700.
DonAlt Is Choosing $3,000 Over a Bigger Bet
The interesting part of the setup is that DonAlt is not trying to squeeze every possible dollar out of the trade.
His broader technical view reportedly leaves room for significantly higher ETH prices, but the trader intends to take most of the position off around $3,000. The logic is partly risk management: he previously held other profitable positions through large reversals and appears unwilling to repeat that mistake with Ethereum.
$2,800 Still Comes First
Ethereum’s short-term structure is less dramatic than the $3,000 target suggests.
ETH has repeatedly struggled around $2,775-$2,825, a zone Coinpaper highlighted in an earlier breakout setup. A sustained move above that range would strengthen the case for $3,000-$3,050.
The broader setup is also mixed. Ethereum ETF demand has recently weakened, with funds flipping back to outflows after a stronger run earlier in the quarter. That divergence was visible in recent ETF flows, where Bitcoin products remained positive while ETH funds slipped negative.
At the same time, Ethereum’s longer-term supply picture remains constructive. Exchange reserves have fallen to multi-year lows while staking continues absorbing circulating ETH, a backdrop Coinpaper recently discussed in its supply analysis.
