Crypto whales are rapidly accumulating Ethereum (ETH), the leading smart contract platform, according to a closely watched trader.
Analyst Ali Martinez says According to 39,700 followers on social media platform
The trader shares a chart that suggests the amount of Ethereum held in wallets containing between 1 and 10 million ETH has been steadily increasing since early December.
Ethereum is trading at $2,219 at the time of writing, a slight increase on the day.
Go to Layer 2 Scaling Solution Polygon (MATIC), Martinez Called The Tom DeMark (TD) Sequential Indicator, which aims to identify turning points in the market with a value of 9 indicating a possible reversal, is flashing bullish signals for altcoins.
“Polygon: TD Sequential indicates a buy signal on the MATIC 4-hour chart. A surge in buying pressure from current levels could potentially see MATIC bounce back to $0.88 and even $0.96.”
As of this writing, MATIC is worth $0.781.
We conclude our analysis of cryptocurrency king Bitcoin (BTC) Martinez. Called He is bullish on the leading digital asset as long as it holds above its immediate support level.
“As long as Bitcoin maintains its position above $41,800, the outlook remains optimistic. This critical level is strengthened by 2.41 million addresses holding more than 1 million BTC, forming a substantial support zone. Additionally, any future resistance will be relatively minor, further strengthening the chances of price stability or upside.”
At the time of this writing, Bitcoin is trading at $44,069.
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