The cryptocurrency market continues to remain under pressure following the latest FOMC meeting. The U.S. Federal Reserve (Fed) made its third 25 basis point interest rate cut of the year, but the subsequent message was more cautious than expected. In the shadow of inflation risks and signals of slowing growth, the prices of major assets have remained weak. However, despite this pullback, crypto whales are quietly increasing their positions.
Whale purchases have concentrated on three tokens that signal recovery or breakout.
Aster (ASTER)
Aster's price has fallen nearly 4% in the last 24 hours, and its total loss over the past month has approached 14%. Nevertheless, whales are moving in the opposite direction.
The amount held by whales has increased by 7.35% in the last day. This translates to approximately 4.59 million ASTER, reaching a value of $4.22 million at the current price. Interestingly, ASTER whale purchases are among the rare coins that occurred both before and after the FOMC decision.
These purchases are noteworthy because the chart highlights a technical formation explaining why whales have stepped in.
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Between November 3 and December 11, a higher low formed in ASTER's price, while the RSI showed a lower level. The Relative Strength Index (RSI) measures buying and selling strength. If the price is going up while the RSI is declining, there is a hidden bullish divergence at play. Although it appears weak on the chart, this indicates a decrease in selling pressure.
Aster exhibited the same pattern between November 3 and December 1. Following this divergence, the price jumped approximately 22%. Given that the current technical setup is similar, whales may again be pursuing a comparable recovery.
For a continued upward movement, Aster must close daily above $1.08. This is because the last bounce paused at this level. If this level is surpassed, the price could target $1.25 and $1.40 levels, which are significant resistances.
If the structure weakens, the downside is quite clear. A daily close below $0.88 will disrupt the rising structure and weaken whale confidence. In a move below this support, ASTER may test $0.81 and below again.
Maple Finance (SYRUP): Current Status and Updates
Maple Finance (SYRUP) is still down about 2.2% in the last 24 hours, with a total loss of nearly 40% over the last month. Despite such weakness in price, crypto whales continued to accumulate. Standard whale wallets increased their SYRUP holdings by 3.86% in the last day, while mega whales added 4.9%, reaching a total of 1.1 billion SYRUP.
This 4.9% increase indicates that large whales have added approximately 51.4 million SYRUP. At the current price, this is worth around $14.4 million. This new accumulation is significant as it comes after slightly hawkish messages from the FOMC decision.
Whales seem to be betting on the possibility that the $0.23 support will hold. SYRUP has tested this support several times since the beginning of December and has not yet broken below it. This could be the reason for whales entering the market. The token has been fluctuating between $0.23 and $0.31 recently. The last support test was conducted on December 4.
Momentum is providing short-term support. Between December 9 and December 11, while the price made a lower low, the RSI created a higher low. This means the Relative Strength Index (RSI) shows buying and selling pressure. If the price declines while the RSI rises, a bullish divergence emerges. Especially in short-term charts, this is generally interpreted as a signal of a bounce despite a downtrend.
If a bounce occurs, the first target will be $0.31. This level has rejected every attempt since December 6. If a clear breakout occurs here, the path opens up to $0.39 and $0.48.
However, if the SYRUP price loses the $0.23 support, whale confidence may weaken. Below this level, there is a clear potential for a decline and possibly a new technical setup.
Pudgy Penguins (PENGU) Coin Price and Current Data
Pudgy Penguins has lost almost 10% of its value in the last 24 hours, but whales continue to buy during this decline. Whale wallets increased their holdings by 5.25%, bringing their total balance to 1.18 billion PENGU. This increase means that whales have added approximately 58.9 million more PENGU.
The top 100 addresses, i.e., mega whales, also showed a consistent accumulation. In the last day, their assets increased by 2.85%, reaching a total balance of 76.95 billion PENGU. This corresponds to approximately 2.13 billion tokens, worth about $21.3 million at today’s price. Such simultaneous buying by whales and mega whales is rare for a token that has recently experienced double-digit losses.
The PENGU price chart explains why whales continue to buy. Pudgy Penguins is forming an inverted head-and-shoulders formation on the daily chart. This is typically a bullish reversal pattern seen when selling pressure decreases and a reversal signal is sought. The neckline is located around the $0.014 level and is sloping upwards. This indicates that a positive structure has formed on the buyer's side before a breakout occurs.
Whales may be betting on this breakout. If PENGU closes daily above $0.014, the height of the formation targets an increase of approximately 35%. In this case, the upward target level corresponds to $0.019. The reason large wallets are opening positions despite price weakness is likely this expectation.
However, there are clear levels where the formation becomes invalid. If Pudgy Penguins falls below $0.010, this structure weakens. If it drops below $0.009, the formation becomes completely invalid, and the bullish expectation disappears. For now, as long as PENGU holds above $0.010, the inverted head-and-shoulders possibility remains on the table, and whales appear ready for a potential breakout.
