The cryptocurrency market has spent most of November within the crimson, with the TOTAL index dropping roughly 20% month-over-month, earlier than rebounding briefly at press time. That weak spot has revived discuss {that a} new bear market might already be beginning.
But regardless of the concern, crypto whales are shopping for, which exhibits that the most important wallets are positioning early as a substitute of exiting. These wallets are quietly including to a few tokens that aren’t hype-driven however supported by actual exercise and fundamentals. Their 30-day accumulation suggests early preparation in case the broader market breaks decrease.
Optimism (OP)
The primary token that crypto whales are shopping for, whereas anticipating a bear market, is Optimism (OP). The broader crypto market has dropped sharply over the previous month, and this altcoin is down 13.3%, but the most important OP whales present agency conviction.
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The highest 100 Optimism addresses have elevated their holdings by 3.15% during the last 30 days. At in the present day’s OP worth, that addition is value roughly $54 million, displaying that mega whales are usually not shaken by market weak spot.
Optimism is without doubt one of the bigger Layer-2 scaling tasks, which could possibly be why whales see long-term worth even when market sentiment weakens.
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Their confidence strains up with the chart. On the two-day timeframe, OP’s worth made a decrease low between April 7 and November 3, whereas the Relative Energy Index (RSI) fashioned a better low.
The RSI measures momentum to indicate when an asset is overbought or oversold. This mismatch is a bullish RSI divergence, a sign that always seems when draw back stress is fading and a bigger development reversal could also be forming.
Crypto whales typically search for these shifts when positioning early into altcoins.
For that reversal to activate, OP wants a clear break above $0.47, a stage that has blocked each rally since mid-October. A breakout there opens the trail to $0.61, and even $0.85 if sentiment improves.
On the draw back, shedding $0.38 places $0.31 again in play. A breakdown beneath $0.31 exposes $0.23 and would invalidate the bullish setup whales appear to be positioning for.
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Aster (ASTER)
The following token crypto whales are shopping for is Aster (ASTER). The tempo right here is considerably quicker than what we noticed in Optimism. Over the previous 30 days, whales have expanded their holdings by 140%, pushing their complete stash to 67.03 million ASTER.
On the present worth of practically $1.13, the entire whale stack is value roughly $75.7 million, with practically $44 million coming from current shopping for.
Sensible cash wallets have additionally moved in the identical path. Their holdings have jumped 678% over the previous month.
The chart helps the actions these wallets are taking. The ASTER worth has damaged out of a falling channel on the 12-hour chart, indicating that the bearish development is shedding pressure. You may also see a transparent normal bullish RSI divergence between October 17 and November 14.
The ASTER worth made a decrease low throughout that interval, whereas the RSI made a better low. That shift suggests momentum is popping, and worth may observe if consumers keep lively.
Brief-term worth motion already displays a few of this. Aster is up virtually 9% up to now 24 hours, however the larger image nonetheless leans towards a reversal fairly than a easy bounce.
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If this construction continues to carry, the following main hurdle sits at $1.29. This stage blocked the rally try on November 2, so a clear shut would verify stronger upside.
If that break occurs, Aster may stretch towards $1.59 subsequent.
On the draw back, $1.11 stays the primary line of assist. Shedding $1.11 opens the trail to $1.00, and if that fails, the deeper stage at $0.81 would come into play.
Maple Finance (SYRUP)
The third token crypto whales are shopping for, anticipating a bear market, is Maple Finance (SYRUP). Maple is a DeFi lending mission that focuses on institutional credit score. Its setup is bullish, however in a extra measured approach in comparison with Optimism and Aster.
Over the previous 30 days, the highest 100 mega-whale addresses have elevated their holdings by 3.47%, elevating their mixed stash to 1.11 billion SYRUP.
On the present worth, the entire mega-whale stack is valued at roughly $499.5 million. Different holder teams are shifting in the identical path.
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Sensible cash wallets have added 1.86%, and common whales have elevated their holdings by 4.57%. When all these teams level in the identical path, it normally displays rising confidence.
The chart exhibits why merchants is likely to be positioning right here. SYRUP is attempting to finish an inverse head and shoulders sample (for fairly a while now).
The neckline is at present positioned close to $0.53. If the value strikes above it, the breakout turns into legitimate, and the goal would prolong towards $0.65 and even increased.
There may be additionally the On-Steadiness Quantity (OBV) development to think about. On-Steadiness Quantity (OBV) is an indicator that tracks shopping for and promoting stress. Shopping for has appeared on OBV, however the indicator continues to be sitting beneath a falling trendline that started round October 14.
For a stronger development reversal, whales possible wish to see each: a break above the neckline at $0.53 and OBV breaking that trendline on the similar time.
When worth and OBV break collectively, rallies have a tendency to carry higher.
For now, the setup exhibits conviction, not affirmation. But, if consumers fail and the value slips, the invalidation sits at $0.38. A drop beneath $0.38 would weaken the sample and will push SYRUP towards $0.28.