According to a well-known crypto analyst, investors have been accumulating large amounts of Ethereum (ETH), the platform that is at layer-1.
Trader Ali Martinez told his 125.900 followers via the social media platform X, that cryptocurrency investors had taken almost one million ETH tokens out of digital asset exchanges within a few days.
The 900 000 ETH tokens, valued at over $2.57 billion, are currently trading for Ethereum at $2.731.
Martinez, who looked at ETH whales activity in the past three days, said that deep-pocketed traders had aquired over $764.68 millions worth of Ethereum.
Martinez claims that ETH is showing a bullish signal based upon the Tom DeMark Sequential Indicator (TD), a metric which measures potential points of reversal. The trader notes that ETH shows the bullish technical signal as it hovers near the diagonal support in the ascending channel. This pattern indicates that the asset is on an upward trend.
The price has historically risen strongly each time the TD Sequential Indicator flashes a Buy signal near the lower border of the channel. !” A similar set-up could unfold now.
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As new information becomes available, the post Ethereum (ETH), worth $2,457.900.000, withdrew from crypto exchanges in less than two weeks, says analyst may change.
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