Analyst: Ethereum Whale Activity Signals Bull Run

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 […]

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Analyst: Ethereum Whale Activity Signals Bull Run

  • Analyst Sheldon Evans questions if the recent crypto dip is a bear trap.
  • Ethereum whales are accumulating, signaling potential strength.
  • Evans advises investors to prepare for potential buying opportunities.

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…

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