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Jakarta, Pintu News – The crypto market is experiencing a correction, but large investors or whales are taking advantage of this moment to buy massive amounts of Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply-.
Leading crypto analyst, Ali Martinez, revealed that in less than a week, the whales have accumulated hundreds of thousands of ETH worth over $815 million.
In addition to Ethereum, Martinez also provides the latest analysis on the price movements of Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- and Cardano ADA->Current ADA PriceRp 0Market Cap-Trading Volume-Circulating Supply-, including important levels that traders need to pay attention to.
A crypto analyst recently revealed that deep-pocketed investors are buying up Ethereum (ETH), the top layer-1 platform, amid a broad digital asset market correction.
Read also: Ethereum Stuck at $1,900 Today (3/17/25) – Is a Big Move Coming?
Trader Ali Martinez informed his 132,900 followers on social media platform X that crypto whales have acquired over $815.514 million in ETH in less than a week.
“Whale has bought over 420,000 Ethereum (ETH) in five days!”
Martinez also monitors Ethereum’s In/Out of the Money Around Price (IOMAP) metric, which classifies crypto addresses based on whether they are in profit, break-even, or loss, to determine ETH support and resistance levels.
According to Martinez, ETH is currently trading in a narrow range between strong support and resistance zones.
“Important Ethereum (ETH) levels to watch! On-chain data reveals that $1,870 is the strongest support level, while $2,050 is the hardest resistance!”
At the time of writing (3/17), ETH is trading at $1,941.
Moving on to Bitcoin (BTC), Martinez believes that the crypto king is poised for a tactical rally after breaking the horizontal resistance of the ascending triangle pattern.
“Bitcoin (BTC) is on a breakout! The target is $90,000 as long as the support at $84,000 holds.”
The ascending triangle pattern is often considered a bullish reversal structure if the asset price manages to break out of its horizontal resistance.
At the time of writing (17/3), Bitcoin is trading at $84,288.
Read also: Salary in Bitcoin? Brazil Proposes Legalization of Wage Payment in Crypto
Meanwhile, for Ethereum’s rival Cardano (ADA), this analyst expects a price rally if the altcoin manages to break the diagonal resistance of the triangle pattern around $0.75.
“Cardano (ADA) is about to take off! If it manages to break out of this triangle pattern, the price could increase by 15%.”
Triangle patterns are generally considered to be consolidation patterns that signal a potential breakout in either direction. The asset is categorized as bullish if the price moves above the diagonal resistance, and bearish if it falls below the diagonal trendline.
As of March 17, 2025, the price of ADA is around $0.744.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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