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ETH is on the verge of a potential short-term reversal as the cryptocurrency currently trades at $2,700.01, up 2% in the past day. According to noted crypto analyst Ali Martinez, deep-pocketed investors, known as whales, have been snapping up huge amounts of ETH, capitalizing on the recent crypto market downturn. This could mean a reversal is in the works. Martinez pointed out in a post on X (formerly Twitter) that there’s been a significant increase in Ethereum “mega-whales” (those holding 10,000 ETH or more). Between February 1st and 9th, the number of these addresses jumped from 941 to 963 – a 2.30% rise. Historically, when this kind of buying happens during a price slump, it’s often a sign that whales are confident the price will bounce back Adding more credence, blockchain sleuths at Lookonchain revealed in a separate X post that over 121,512 ETH (worth around $323.4 million) flew out of major exchanges like Binance and Bitfinex, heading to just two whale wallets. Related: BTC Could Easily Reach $150K As OTC Supply Nears Depletion – Analyst One whale, identified as “0xb99a…BcF5,” pulled out 56,909 ETH ($151.6 million) from Binance earlier today. Meanwhile, another massive wallet, “0xEd0C…4312,” withdrew a hefty 64,603 ETH ($171.8 million) from both Binance and Bitfinex over the past couple of days. This kind of exodus from exchanges usually suggests these whales aren’t planning to sell anytime soon; instead, they’re likely stockpiling for the long haul, which takes away selling pressure in the short term. The daily chart from TradingView confirms that ETH hasn’t been a star performer this cycle, but it just might be on the cusp of a bullish surge. The Relative Strength Index (RSI) is currently at 35.82, suggesting bearish territory. However, it’s worth noting the RSI dipped close to oversold levels recently, which often precedes a rebound. Looking at the MACD indicator, it still paints a bearish picture, with the signal line (red) lingering above the MACD line (blue), indicating the downtrend is losing steam but hasn’t completely reversed. Related: Bitcoin ‘Diamond Hands’? BTC Holds $97K as Whales Dump at 3AC Levels The MACD histogram is also bearish, but the bars are getting shorter, hinting at a growing possibility of a bullish divergence – a potential early sign of a trend change. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Receipts Depositary Corporation (RDC) has just dropped the news about XRP Depositary Receipts (XRP DRs), a new financial tool that lets investors get in on XRP action without directly owning the cryptocurrency. Similar to Exchange Traded Funds (ETFs) and American Depository Receipts (ADRs), XRP DRs will give investors the chance to profit from XRP’s future gains but without actually holding the asset itself. This move is seen as a bridge between traditional finance and decentralized finance (DeFi), potentially opening up the crypto market to more institutional investors. Related: Crypto’s Going Mainstream Faster Than the Internet Did Anchorage Digital, a federally chartered digital asset bank, will serve as the custodian for these XRP DRs. This partnership suggests that the securities may be subject to strict regulatory oversight, which could increase trust from institutional investors. Ankit Mehta, Co-Founder and CEO of RDC, said that XRP DRs are a step toward bringing digital assets into the mainstream financial ecosystem. “Qualifying investors now have the ability to own XRP using the same processes they trust for traditional securities. We are seeing more demand for digital asset DRs and are scaling our business accordingly,” Mehta said. A few days ago, Fox Business journalist Eleanor Terrett had reported that Digital Wealth Partners (DWP) is also preparing to launch XRP Depository Receipts. Although the launch of XRP DRs may not immediately cause a major price surge, they represent a growing institutional interest in XRP and it could help increase liquidity and demand for XRP in the global market. Related: XRP ETFs Edge Closer to SEC Approval Following Multiple 19b-4 Filings Analysts predict that if XRP manages to push past its current support levels below $3, the potential for upward movement could remain intact, possibly reaching targets like $4.20, $5, or even $6.60. However, until a confirmed breakout occurs, a period of sideways movement may be expected. At press time, XRP is trading at $2.50 and is up by more than 4.5% in the last 24 hours. XRP last traded above $3 on February 1, and according to crypto expert Ali Martinez, if XRP stays above $2.27, it could get the boost it needs for a bounce back toward $3. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

To say cryptocurrencies had a rough February start is an understatement. In the first week of the month, the crypto market cap experienced a drastic decrease. Going by the numbers from CoinMarketCap , it went from $3.6 trillion to $3.0 trillion in a matter of a few days. However, Ali Martinez, a prominent crypto analyst, highlighted a promising shift: capital inflows into the market picked up, adding $6 billion in the past week and hinting at renewed momentum. The injection of $6 billion suggests a resurgence of investor interest and confidence in the crypto market. Such inflows can lead to increased liquidity, potentially driving up asset prices and encouraging further investment. This trend stands in stark contrast to earlier observations of capital exiting major cryptocurrencies like Bitcoin and Ethereum in favor of stablecoins, reflecting investor caution. The current trend indicates a shift towards a more bullish sentiment. Renewed capital inflows can stimulate market activity, leading to price appreciation across various cryptocurrencies. Related: Trump’s 25% Tariff on Steel, Aluminum Imports Rattles Bitcoin as Crypto Markets React Nonetheless, investors should remain vigilant, as markets can be volatile. While this is definitely good news for the crypto world, short-term inflows should not be mistaken for indicators of long-term stability. It’s prudent to focus on real trading volume rather than being swayed by news headlines and social media trends. At the start of the month, the crypto market faced a substantial sell-off after US President Donald Trump announced new tariffs – 25% on imports from Mexico and Canada and 10% on goods from China. This led to over $2.2 billion in liquidations within 24 hours, affecting more than 700,000 traders. As the leading cryptocurrency, Bitcoin experienced a notable decline of approximately 7.5%, reaching a low of around $91,969. Ethereum also suffered a significant drop of about 20.1%, trading at roughly $2,510. Related: Crypto Market Recovers Sharply: Tariff Concerns Easing Altcoins were particularly hard hit, with some, like XRP, suffering a decline of over 28%. That being said, the latest $6 billion capital influx does signify a positive shift in the cryptocurrency market, with the current global crypto market cap currently at $3.24 trillion. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Solana ($SOL ) Approaches Critical Support Level – What's Next? Solana ($SOL) is at a crucial juncture as it tests its lower boundary within a parallel channel, currently holding support between $185 and $193. Analysts, including Ali Martinez, highlight that maintaining this level is essential for Solana to continue its bullish market structure and target higher price levels. 📊 Key Technical Levels: 🔹 Support Zone: $185 - $193 (Crucial for bullish momentum) 🔹 Immediate Resistance: $210 🔹 Major Targets: $300 - $387 (if bullish trend sustains) A strong defense of the support zone could attract buying pressure, reinforcing positive sentiment and allowing SOL to break above $210, with a potential rally toward $300 and eventually $387. However, failure to hold support could shift sentiment bearish, triggering a drop toward $160 or $150. 🔍 Technical Indicators: 📈 MACD: Shows early signs of bullish momentum. 📊 Histogram Bars: Transitioning from red to near-positive, suggesting bearish pressure is weakening. At press time, SOL is trading at $197, up 3.39% in the past 24 hours, with a market cap of $96.42 billion and a 24H trading volume of $2.59 billion.

Solana ($SOL) price approaches an essential support threshold while operating in an established parallel channel structure. The direction of cryptocurrency movements at this support threshold will shape future trend patterns. Analysts have weighed in on whether SOL will continue holding its current position above the support level or break below it. Solana Price Retests Lower Boundary of Parallel Channel Crypto Analyst Martinez noted that Solana price maintains its position within a parallel channel structure along its lower boundary at between $185 and $193. Past price movements in this area of support have created fundamental influences on price trends. The digital asset demonstrates resilience for its upper and lower boundaries in this structure. Additionally, the analyst emphasized that Solana price ability to sustain this support level suggests that it will continue building its bullish market structure. A solid defense of this support level enables buying pressure which strengthens market belief in Solana price. Upside Towards $387 Resistance Target Ali Martinez further predicts that Solana price will rise toward the $387 resistance target if it manages to stay above its support area. A rise from current price points would establish conditions suitable for breaking through immediate resistance levels at $210. Technical indicators based on Fibonacci retracement levels converge in the anticipated resistance area. This strengthens the potential for price growth if the support area holds. The potential price movement to $387 would constitute a significant growth above existing levels. However, breaking down below the support might erase the potential upward movement. Selling pressure would increase when the SOL price falls below the parallel channel’s lower boundary and would perform a support retest at lower levels. A price drop would change market sentiment in a way that could fuel additional downward price action. Solana Technical Analysis On the technical indicators outlook, the MACD line is showing a slight upward movement, signaling the possibility of emerging bullish momentum. The signal line remains slightly below the MACD line, indicating a developing positive trend but still lacking strong confirmation. The current readings suggest that buyers are slowly gaining control, although the momentum is still in the early stages. Moreover, histogram bars are transitioning from negative to near-positive territory, reflecting diminishing bearish momentum. The shrinking red bars signal a gradual shift in sentiment, with the potential for the histogram to flip to green if the buying pressure increases. If confirmed, it may align with broader price movements, particularly if Solana sustains support near $193. Meanwhile, a recent analysis indicated potential for a SOL price rally to $350 if bullish momentum strengthens, with key resistance at $220 and $300. However, failure to hold the $200 support could lead to a drop toward $160 or $150. At press time, Solana (SOL) is trading at $197, up 3.39% in the past 24 hours with a market cap of $96.42 billion. With a 24-hour trading volume of $2.59 billion, the token is nearing the key $200 resistance level.