tl;dr
Crypto analyst Ali Martinez reports that deep-pocketed investors are buying significant amounts of Ethereum (ETH) during the marketwide digital asset correction, with over $815.514 million worth of ETH purchased in less than a week. Martinez also monitors Ethereum's support and resistance levels usi...
Deep-pocketed investors are reportedly acquiring substantial amounts of Ethereum (ETH) amidst marketwide digital asset correction, with on-chain data pointing to key support and resistance levels.
Bitcoin (BTC) is expected to see tactical rallies after breaching horizontal resistance, with a target of $90,000 as long as the $84,000 support holds.
Cardano (ADA) may experience a 15% price move if it breaks free from a triangle pattern at around $0.75, with potential bullish or bearish implications based on the pattern's breakout direction.
Crypto analyst Ali Martinez reports that deep-pocketed investors are buying significant amounts of Ethereum (ETH) during the marketwide digital asset correction, with over $815.514 million worth of ETH purchased in less than a week. Martinez also monitors Ethereum's support and resistance levels using the In/Out of the Money Around Price (IOMAP) metric.
He predicts tactical rallies for Bitcoin (BTC) after breaching the horizontal resistance and anticipates potential price moves for Cardano (ADA) if it breaks out of a triangle pattern.
At the time of writing, ETH is trading at $1,941, BTC at $84,288, and ADA at $0.744. A crypto analyst says deep-pocketed investors are snapping up the top layer-1 platform Ethereum (ETH ) amid the marketwide digital asset correction. Trader Ali Martinez tells his 132,900 followers on the social media platform X that whales gobbled up more than $815.514 million worth of ETH in less than a week.
“Whales have bought more than 420,000 Ethereum ETH in !” Image Source: Ali Martinez/X Martinez is also keeping a close watch on Ethereum’s In/Out of the Money Around Price (IOMAP) metric – which classifies crypto addresses as either profiting, breaking even, or losing money – to determine support and resistance levels for ETH. According to Martinez, ETH is currently trading in a narrow range between stiff support and resistance zones.
“Ethereum ETH key levels to watch! On-chain data reveals $1,870 as the strongest support and $2,050 as its toughest resistance!” Image Source: Ali Martinez/X At time of writing, ETH is trading for $1,941. Turning to Bitcoin (BTC ), the trader believes that the crypto king is poised to witness tactical rallies after breaching the horizontal resistance of an ascending triangle pattern. “Bitcoin BTC is breaking out! The target is $90,000 as long as the $84,000 support holds.” Image Source: Ali Martinez/X An ascending triangle pattern may be considered a bullish reversal structure if the asset soars above its horizontal resistance. At time of writing, Bitcoin is trading for $84,288.
Turning to Ethereum rival Cardano, the analyst predicts rallies for ADA if the altcoin takes out the diagonal resistance of a triangle pattern at around $0.75. “Cardano ADA is about to break free! Busting out of this triangle will trigger a 15% price move.” Image Source: Ali Martinez/X A triangle is typically viewed as a consolidation pattern as it signals a potential breakout in either direction. The asset is considered bullish if the price moves above the diagonal resistance and bearish if it tumbles below the diagonal trend line. At time of writing, ADA is worth $0.744.