Cryptocurrencies bought a record 190,000 ETH per day

Cryptocurrency analysts have recorded a massive accumulation of Ethereum ETH $3,840.74 Bridged Ether (StarkGate) 2.18% Market capitalization $0.11 billion VOL. 24 hours $3.22 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 $118,922.76 Bitcoin 0.47% Market capitalization $2.37 trillion VOL. 24 hours $2.02 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 $0.28 Binance-Peg Dogecoin 10.96% Market capitalization $0.72 billion VOL. 24 hours $0.98 billion is holding above an important support level of $ 0.185, which may contribute to its further growth. XRP $3.64 XRP 2.89% Market capitalization $215.47 billion VOL. 24 hours $0.98 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.