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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