Crypto Whales Gobble Up Ethereum Worth $2.5 Billion
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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.