The cryptocurrency market has spent most of November within the purple, with the TOTAL index dropping roughly 20% month-over-month, earlier than rebounding briefly at press time. That weak spot has revived speak {that a} new bear market could already be beginning.
But regardless of the concern, crypto whales are shopping for, which exhibits that the largest wallets are positioning early as a substitute of exiting. These wallets are quietly including to 3 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 largest OP whales present agency conviction.
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The highest 100 Optimism addresses have elevated their holdings by 3.15% over the past 30 days. At at present’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 might be why whales see long-term worth even when market sentiment weakens.
OP Holders: Nansen
Their confidence traces 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 point out when an asset is overbought or oversold. This mismatch is a bullish RSI divergence, a sign that usually seems when draw back strain is fading and a bigger pattern reversal could also be forming.
Crypto whales usually 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, dropping $0.38 places $0.31 again in play. A breakdown under $0.31 exposes $0.23 and would invalidate the bullish setup whales appear to be positioning for.
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Aster (ASTER)
The subsequent 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 whole stash to 67.03 million ASTER.
On the present worth of almost $1.13, the full whale stack is value roughly $75.7 million, with almost $44 million coming from current shopping for.
Good cash wallets have additionally moved in the identical course. 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 pattern is dropping pressure. It’s also possible to see a transparent commonplace 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 comply with if patrons keep energetic.
Quick-term worth motion already displays a few of this. Aster is up nearly 9% previously 24 hours, however the greater image nonetheless leans towards a reversal slightly than a easy bounce.
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If this construction continues to carry, the subsequent 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 help. Dropping $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 undertaking that focuses on institutional credit score. Its setup is bullish, however in a extra measured manner 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 full mega-whale stack is valued at roughly $499.5 million. Different holder teams are shifting in the identical course.
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Good cash wallets have added 1.86%, and common whales have elevated their holdings by 4.57%. When all these teams level in the identical course, it normally displays rising confidence.
The chart exhibits why merchants is likely to be positioning right here. SYRUP is making an attempt 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 worth strikes above it, the breakout turns into legitimate, and the goal would lengthen towards $0.65 and even greater.
There may be additionally the On-Steadiness Quantity (OBV) pattern to think about. On-Steadiness Quantity (OBV) is an indicator that tracks shopping for and promoting strain. 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 pattern reversal, whales doubtless wish to see each: a break above the neckline at $0.53 and OBV breaking that trendline on the identical time.
When worth and OBV break collectively, rallies have a tendency to carry higher.
For now, the setup exhibits conviction, not affirmation. But, if patrons fail and the worth slips, the invalidation sits at $0.38. A drop beneath $0.38 would weaken the sample and will push SYRUP towards $0.28.
