Analyst Ali Martinez reports significant Ethereum (ETH) acquisitions by major investors amid market instability. Key levels for ETH and BTC have been noted, alongside potential Cardano breakout.
Whale Purchases and Market Corrections
In the last five days, major investors have acquired 420,000 Ethereum worth $815 million, despite overall market downturns. This highlights institutional interest in ETH amidst price volatility.
Key Levels for Ethereum and Bitcoin
The IOMAP metric for Ethereum indicates that ETH is trading between $1,870 support and $2,050 resistance. Meanwhile, Bitcoin has surpassed horizontal resistance in an ascending triangle, often indicating potential bullish reversals.
Cardano's Triangle Formation
For Cardano, an analyst noted a triangle pattern with resistance near $0.75. A breakout could trigger a 15% price swing, while a breakdown below the trendline may lead to declines.
The analysis of on-chain data and technical patterns suggests increased interest in Ethereum amid whale accumulation, alongside potential shifts for Bitcoin and Cardano in the volatile cryptocurrency market.
