Bitcoin (BTC) Eyes Pullback as Whales Load Up on Cardano and Ethereum

Crypto markets remain active with key developments across Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA), as shared by leading market analyst Ali Martinez.

Crypto markets have seen key developments across Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA), according to leading market analyst Ali Martinez.

Here’s a summary of the most recent insights.

Bitcoin (BTC) May See Short-Term Pullback as TD Sequential Triggers Sell Signal on 12H Chart

Bitcoin may be heading for a short-term pullback, according to the TD Sequential indicator on the 12-hour chart. The tool has triggered a sell signal following BTC’s impressive run-up past the $103,000 resistance.

BTC 12H Chart (Credit: Ali Martinez)

The indicator has completed a nine-candle sequence, which usually precedes a trend reversal.

However, it's worth noting that the indicator is not always accurate, and traders should use it in conjunction with other technical indicators and fundamental analysis.

Bitcoin is currently trading hands at around $103,662. The next resistance level for the cryptocurrency is at $106,000, which is the pivot point for traders.

Cardano (ADA) Whales Accumulate Over 40M Coins in 48 Hours as Price Surges

In a clear sign of confidence, whales have been accumulating massive amounts of Cardano. Over the past 48 hours, whales, defined as wallets holding 100M-1B ADA coins, have added over 40 million ADA to their holdings.

The chart from DeFi analyst Ali Martinez showcases a sharp uptick in accumulations, particularly in the 100M-1B ADA bracket, which went from around 300-400 million to nearly 800 million ADA.

The accumulation is significant given the cryptocurrency's recent price breakout, suggesting potential continuation of upward momentum.

Moreover, the activity suggests bullish positioning ahead of further ecosystem developments or upgrades, which could be announced at the upcoming Cardano summit in May.

Ethereum (ETH) Clears Key Resistance at $2,380, Opening Door For New Bull Rally

Ethereum has successfully moved above its $2,380 supply barrier, a zone that previously acted as heavy resistance for the cryptocurrency.

As a result, analysts are now expecting to see a new bull rally forming, with the next resistance level at $2,600.

The resistance was backed by over 12.7 million ETH addresses, making it a significant psychological and technical level.

"A decisive close above this barrier increases the likelihood of a momentum-driven run to higher targets, setting the stage for a continuation of the bullish trend in the Ethereum market," the analyst stated.

The post Bitcoin (BTC) Shows Cooling Signs, While Cardano (ADA) Whales Show Fervor in 40M Coin Accumulation appeared first on Inside Bitcoins.output: A new report from crypto analyst Ali Martinez reveals that Bitcoin (BTC) might be heading for a short-term pullback.

The TD Sequential indicator on the 12-hour chart has triggered a sell signal following BTC's impressive run-up past the $103,000 resistance. The indicator has completed a nine-candle sequence, which usually precedes a trend reversal.

However, it's worth noting that the indicator is not always accurate, and traders should use it in conjunction with other technical indicators and fundamental analysis.

Bitcoin is currently trading hands at around $103,662. The next resistance level for the cryptocurrency is at $106,000, which is the pivot point for traders.

On the other hand, Cardano (ADA) has seen massive accumulation by whales in recent days. According to DeFi analyst Ali Martinez, whales, defined as wallets holding 100M-1B ADA coins, have added over 40 million ADA to their holdings in just 48 hours.

The chart shows a sharp uptick in holdings, particularly in the 100M-1B ADA bracket, which went from around 300-400 million to nearly 800 million ADA. The accumulation is significant given the cryptocurrency's recent price breakout, suggesting potential continuation of upward momentum.

Moreover, the activity suggests bullish positioning ahead of further ecosystem developments or upgrades, which could be announced at the upcoming Cardano summit in May.

In other news, Ethereum has cleared a key resistance level at $2,380, opening the door for a new bull rally to form.

Analysts at Ali Charts are now expecting to see a continuation of the uptrend, with the next resistance level at $2,600.

This resistance was backed by over 12.7 million ETH addresses, making it a significant psychological and technical barrier. A decisive close above this barrier increases the likelihood of a momentum-driven run to higher targets.