dailyhodl.com
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!”
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.”
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!”
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.
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.
Generated Image: Midjourney