Cryptocurrencies bought a record 190,000 ETH per day

Cryptocurrency analysts have recorded a massive accumulation of Ethereum ETH $2,324.35 Bridged Ether (StarkGate) -1.35% Market capitalization $43.86 million VOL. 24 hours $0.77 billion by large investors. According to the Santiment platform, in just 24 hours, whales bought 190,000 ETH worth more than $ 422 million. This indicates a growing interest in Ethereum ahead of possible market changes.

According to analyst Ali Martinez, this trend may indicate a future increase in the asset’s price. Currently, Ethereum is trading at $ 2,221, but massive purchases may contribute to a further increase in value.

In addition, the expert identified key support and resistance levels for bitcoin BTC $75,385.66 Mezo Wrapped BTC -0.30% Market capitalization $0.1 billion VOL. 24 hours $1.25 billion . The strongest resistance is at $ 97,828, where 360,470 BTC were previously accumulated. At the same time, the highest level of support is $ 64,078, which is assigned 194,530 BTC. This means that in case of a price drop, bitcoin can find support at this level.

Analysts also noted that Dogecoin DOGE $0.10 Binance-Peg Dogecoin 0.58% Market capitalization $0.25 billion VOL. 24 hours $0.15 billion is holding above an important support level of $ 0.185, which may contribute to its further growth. XRP $1.43 XRP 1.56% Market capitalization $87.97 billion VOL. 24 hours $0.22 billion , in turn, is in an uptrend, although a temporary decline to $ 1.65 is possible.

Massive purchases of Ethereum by major players may mean preparations for a new market cycle, which is likely to affect market dynamics in the coming months.