A crypto analyst closely following the market stated that investors in freight are loading Ethereum (ETH) on the leading smart contract platform.
Citing data from a crypto analytics firm, trader Ali Martinez informed his 129,100 followers on the social media platform X that over $422 million worth of ETH had accumulated in just one day.
“Whales have repurchased 190,000 ETH in the past 24 hours, according to Santiment’s data!”
Source: Ali Martinez/X
At the time of writing, the value of ETH was $2,221.
Looking at Bitcoin (BTC), Martinez identified key support and resistance levels based on investor cost fundamentals for the leading cryptocurrency.
“The strongest resistance for Bitcoin BTC is at $97,828.56, with an accumulation of 360,470 BTC. At the same time, the largest support is at $64,078.53, backed by 194,530 BTC.”
Source: Ali Martinez/X
At the time of writing, Bitcoin was trading at $86,356.
Turning to Dogecoin (Doge), the analyst noted that the altcoin is currently respecting the key support level of $0.185.
“Dogecoin Doge is above the critical support level!”
Source: Ali Martinez/X
At the time of writing, the value of Doge was $0.206.
As for the crypto strategist’s payment altcoin XRP, he mentioned that the fourth-largest coin could drop to $1.65, while its trading volume might fluctuate within an ascending channel.
Source: Ali Martinez/X
The ascending channel is a pattern that indicates an asset in an upward trend, as it respects diagonal support and structural resistance levels.
At the time of writing, XRP was trading at $2.24.
Don’t miss a beat – subscribe to receive email alerts directly to your inbox.
Check price action.
Follow us on X, Facebook, and Telegram.
Surf Daily Hodl Mix.
Generated image: Midjourney
