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A widely followed crypto analyst says that deep-pocketed investors are accumulating billions of dollars worth of Ethereum (ETH) as the leading smart contract platform flashes a bullish signal on its daily chart.
In a new thread, crypto strategist Ali Martinez tells his 65,400 followers on the social media platform X that in the past weeks, Ethereum whales have been busy gobbling up the leading altcoin.
“Ethereum whales have bought over 700,000 ETH in the past three weeks, totaling approximately $2.45 billion!”
The whale accumulation comes as Martinez says that Ethereum is displaying a bullish signal on its daily chart. The trader says the Tom DeMark (TD) Sequential indicator – which is used to determine potential points of reversal for an asset – suggests that a bounce is in sight for Ethereum.
“The TD Sequential has issued a buy signal on the Ethereum daily chart, predicting a rebound of one to four daily candlesticks for ETH!”
Ethereum is trading for $3,575 at time of writing, a fractional increase during the last 24 hours.
Moving on to Ethereum rival Solana (SOL), Martinez says that its TD Sequential is also displaying a bounce signal on its daily chart.
“Solana has hit a key support level at $141, with the TD Sequential showing a buy signal on the SOL daily chart! If this support holds, SOL could rebound for one to four daily candlesticks.”
Solana is trading for $148.91 at time of writing, a 3.48% gain during the last day.
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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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