Crypto analyst Sheldon Evans, also known as The Sniper, recently analyzed the crypto market, asking, “Is Crypto About to Drop 30% or Is This a Bear Trap?”
He noted that while markets appeared promising on Friday, a sudden spike in volatility that night impacted several altcoins, including Phantom and Dogecoin, raising questions about Dogecoin’s potential entry point. Evans highlighted key factors to consider: Was this dip news-driven, influenced by high leverage, or the beginning of a downtrend?
Looking at higher time frames, Evans asserted that the recent pullback does not indicate a market reversal. He suggested that selling during downturns benefits institutional investors (“smart money”) who accumulate at lower prices.
The analyst also observed a trend where large holders of Ethereum (known as “whales”) have been increasing their holdings by 3% over the past three weeks, signaling a shift from weaker to stronger hands. He stated:
“3% of t…
The post Analyst: Ethereum Whale Activity Signals Bull Run appeared first on Coin Edition.
Crypto analyst Sheldon Evans, also known as The Sniper, recently analyzed the crypto market, asking, “Is Crypto About to Drop 30% or Is This a Bear Trap?”
He noted that while markets appeared promising on Friday, a sudden spike in volatility that night impacted several altcoins, including Phantom and Dogecoin, raising questions about Dogecoin’s potential entry point. Evans highlighted key factors to consider: Was this dip news-driven, influenced by high leverage, or the beginning of a downtrend?
Looking at higher time frames, Evans asserted that the recent pullback does not indicate a market reversal. He suggested that selling during downturns benefits institutional investors (“smart money”) who accumulate at lower prices.
The analyst also observed a trend where large holders of Ethereum (known as “whales”) have been increasing their holdings by 3% over the past three weeks, signaling a shift from weaker to stronger hands. He stated:
“3% of t…
The post Analyst: Ethereum Whale Activity Signals Bull Run appeared first on Coin Edition.