Cryptocurrency whales' picks for December... Focused accumulation of ENA, XRP, and ADA

Source: DigitalToday Original Title: Promising Cryptocurrencies Selected by Whales in December… Focused Accumulation of ENA, XRP, ADA Original Link:

As cryptocurrency whales begin to actively move as December approaches, the assets they are directing their funds towards are becoming distinctly clear. Their activities provide hints about where the next bull market may emerge. Despite the volatility at the end of November, large cryptocurrency holders are not selling off, but rather increasing their exposure to mid- to large-cap altcoins.

Etheana(ENA)

Eterna is one of the assets that crypto whales are paying the most attention to in December, expecting profits. This token has increased by 21.3% over the past week, but instead of realizing profits, whales are increasing their purchases. In just this week, whale wallets have increased their Eterna holdings by 2.84%, bringing their total to 39.88 million ENA. This means they have purchased an additional approximately 1.1 million ENA. The top 100 addresses, or mega whales, have also increased their holdings by 0.35%, adding about 50 million ENA to expand their holdings. Despite the strong upward trend, the whales' buying indicates confidence in further price increases.

On the 12-hour chart, Ethereum is still trading within a symmetrical triangle, indicating a stalemate between buyers and sellers. The key price level is $0.28, which has thwarted all upward attempts since November 25. If this price is broken on a daily closing basis, it could rise to $0.30, and even $0.32. On the other hand, if it fails to hold $0.27, it risks breaking the lower triangle boundary and could fall to $0.21.

Ripple(XRP)

XRP is the second asset that crypto whales are paying attention to, expecting profits in December. The accumulation pattern here is much stronger than that of Ethereum. Since the end of November, two major whale groups have aggressively started accumulating. The largest holder group, holding over 10 billion XRP, has added 150 million XRP since November 25, recording new purchases worth approximately $330 million at the current price. The group holding 10 million to 100 million XRP has been even more aggressive in its accumulation, securing about 970 million XRP since November 23, which is equivalent to approximately $2.13 billion at the current price. XRP is currently trading around $2.20, indicating that whales are looking forward to a bullish market as they have started buying amid a recent weekly trend that saw a 16% increase.

Technically, XRP is at an important turning point. It has defended the support level of $1.77 for two months, forming a double bottom structure that was tested twice on October 10 and the end of November. This support level is expected to be the foundation for a bullish December. In order to rise further, it needs to break the resistance level of $2.30, and if it surpasses this price range on a daily closing basis, there is potential for it to rise to $2.45 and $2.61. On the other hand, if it falls below $2.11, the bullish structure is likely to collapse and it could be readjusted to $1.81. This could occur when whale accumulation shifts back to selling.

Cardano(ADA)

Cardano is gaining attention amid the trend of crypto whales returning to large coins following XRP. Since the end of November, two major ADA holding groups have started accumulating. The largest holding group, which holds over 10 billion ADA, began buying on November 24 and has secured an additional 130 million ADA to date. The group holding between 10 million and 100 million ADA also began accumulating on November 26, adding 150 million ADA. Both groups have switched to net buying within a few days, demonstrating confidence in ADA trading at recent lows.

ADA is currently trading around $0.41, and this accumulation has occurred within a weekly recovery trend of 5%. The 12-hour chart shows a standard bullish divergence. Between November 4 and 21, while the ADA price was declining, the RSI( relative strength index) showed an upward trend. This is usually interpreted as a signal for a trend reversal. For ADA to maintain its bullish momentum in December, it needs to record a definite close above $0.43, and if it breaks through this level, it could rise to $0.52. However, if it falls below $0.38, the bullish structure may weaken.