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A closely followed crypto analyst says deep-pocketed investors are loading up on the leading smart contract platform Ethereum (ETH).
Citing data from crypto analytics firm Santiment, trader Ali Martinez tells his 129,100 followers on the social media platform X that Ethereum whales accumulated over $422 million worth of ETH in just one day.
“Whales bought another 190,000 Ethereum ETH in the last 24 hours, shows data from Santiment!”
Source: Ali Martinez/X
At time of writing, ETH is worth $2,221.
Looking at Bitcoin (BTC), Martinez identifies crucial support and resistance levels for the crypto king based on investor cost basis.
“The strongest resistance for Bitcoin BTC sits at $97,828.56, where 360,470 BTC were accumulated. Meanwhile, the biggest support is at $64,078.53, backed by 194,530 BTC.”
Source: Ali Martinez/X
At time of writing, Bitcoin is trading for $86,356.
Turning to the top memecoin Dogecoin (DOGE), the analyst says the altcoin is currently respecting a key support level at $0.185.
“Dogecoin DOGE holds above a critical support level!”
Source: Ali Martinez/X
At time of writing, DOGE is worth $0.206.
As for the payments altcoin XRP, the crypto strategist says that the fourth-largest coin by market cap may drop to as low as $1.65 as it trades within an ascending channel.
Source: Ali Martinez/X
An ascending channel is a pattern suggesting that an asset is in an uptrend as it respects the diagonal support and resistance levels of the structure.
At time of writing, XRP is trading at $2.24.
