A prominent crypto analyst says deep-pocketed investors have been spotted loading up huge amounts of Ethereum (ETH).
Trader Ali Martinez tells his 119,200 followers on the social media platform X that crypto whales gobbled up more than $3.80 billion worth of Ethereum in a two-day span.
“Whales have bought over 1.14 million Ethereum $ETH in [48 hours!]”
At time of writing, Ethereum is trading for $3,340.
The trader is also keeping an eye on the interoperable blockchain Polkadot (DOT). According to Martinez, DOT looks primed to ignite a big upside burst as it threatens to break out from a bullish continuation pattern.
“Polkadot DOT looks ready to break out of a bull pennant, targeting $17!”
At time of writing, DOT is worth $6.34.
Looking at the layer-1 protocol Aptos (APT), Martinez warns that the crypto asset appears to be forming a bearish reversal structure on the 12-hour chart. The trader says that APT has to spark rallies soon otherwise the altcoin might witness a severe corrective move.
“Aptos APT appears to be forming a head-and-shoulders pattern, with a potential downside target of $4.30. A sustained close above $10.50 is needed to invalidate the bearish outlook.”
At time of writing, APT is trading for $8.26.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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