Crypto Whales Gobble Up Ethereum Worth $2.5 Billion
Crypto analyst Ali Martinez said that in the past three weeks, ETH whales have purchased around 700,000 ETH for a total value of approximately $2.45 billion.
Martinez added that this uptick coincides with a bullish signal present on the daily chart of Ethereum (ETH) during the time of his publication.
#Ethereum whales have bought over 700,000 $ETH in the past three weeks, totaling approximately $2.45 billion! pic.twitter.com/sfmXnkqD49
— Ali (@ali_charts) June 15, 2024
He also explained that according to the TD Sequential indicator, which helps identify potential trend reversals in an asset, a potential rally in ETH can be expected:
“TD Sequential has shown buy signals on the daily chart of Etherium that suggest a bounce lasting one to four days!”
As for Solana (SOL), a competitor to Ethereum; the analyst said that TD Sequential’s indicator on the cryptocurrency also suggests such a likely rebound on SOL’s daily chart.
READ MORE: Amber Group Acquires $20 Million Worth of Ethereum and Uniswap Tokens
He said:
“Solana’s price reached a key support level at $141 and there was the TD Sequential buy signal! If this support holds, SOL could see a bounce in [1 to 4 days].” – and this was on Sunday.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
