Cryptocurrency investors are closely watching the movements of Ethereum (ETH) as data from crypto analytics firm Santiment reveals that whales have been accumulating large amounts of the leading smart contract platform. In just one day, Ethereum whales bought over $422 million worth of ETH, signaling strong interest from deep-pocketed investors.
The current price of ETH stands at $2,221, highlighting the ongoing bullish sentiment surrounding the cryptocurrency. On the other hand, Bitcoin (BTC) is trading at $86,356, with crucial support and resistance levels identified by trader Ali Martinez based on investor cost basis. The strongest resistance for Bitcoin is at $97,828.56, backed by 360,470 BTC, while the biggest support level is at $64,078.53, supported by 194,530 BTC.
In the world of meme coins, Dogecoin (DOGE) is maintaining a key support level at $0.185, according to Martinez. The current price of DOGE is $0.206, indicating stability at the mentioned support level. As for XRP, the fourth-largest cryptocurrency by market cap, it may experience a potential drop to $1.65 as it trades within an ascending channel pattern. An ascending channel suggests an uptrend as the asset respects diagonal support and resistance levels.
At the time of writing, XRP is trading at $2.24, showcasing the potential for a downward movement within the established channel. To stay updated on the latest cryptocurrency trends and price actions, subscribers can receive email alerts directly to their inbox. Additionally, following social media platforms like X, Facebook, and Telegram can provide valuable insights and updates on the crypto market.
As the cryptocurrency market continues to evolve, investors are advised to stay informed and monitor price movements closely. By keeping track of key support and resistance levels, traders can make informed decisions on their investment strategies. With Ethereum whales accumulating significant amounts of ETH and Bitcoin maintaining crucial levels, the crypto market remains dynamic and full of opportunities for investors.