An experienced crypto strategist reveals that there is significant accumulation of Ethereum (ETH) happening among investors.
Trader Ali Martinez, with a large following on X, reports that nearly 1 million ETH tokens have been withdrawn from exchanges in just over a week.
“Over 900,000 Ethereum ETH have been moved out of exchanges in [10 days], indicating a rise in accumulation and a decrease in selling pressure!”
At the current trading price of $2,731, the 900,000 ETH tokens are valued at over $2.457 billion.
Examining ETH whale activity, Martinez notes that large investors have purchased over $764.68 million worth of Ethereum in just three days.
“Whales acquired 280,000 Ethereum ETH in [72 hours]!”
In the midst of this significant accumulation of ETH, Martinez points out that Ethereum is displaying a bullish technical signal based on the Tom DeMark (TD) Sequential indicator, which is used to identify potential reversal points for an asset. Additionally, ETH is showing this signal while approaching the diagonal support of an ascending channel, indicating an upward trend.
“Whenever the TD Sequential indicator triggers a buy signal on the Ethereum ETH weekly chart near the lower boundary of this channel, prices have historically experienced strong rebounds. A similar scenario could be unfolding now!”
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