$2750 Obstacle Stands Between ETH Rally and Reality

Bitcoin and altcoins have lost momentum after last week's surge, with Bitcoin currently trading at around $82,000 and Ethereum at around $2,650. However, large investors in Ethereum are accumulating significant amounts of ETH, which may signal a potential rally.

Cryptocurrency analyst Ali Martinez noted that over 320,000 $ETH were accumulated by large investors in the last week alone, with the number of transactions on the Ethereum network exceeding $1 million increasing from 1,202 to 7,113 - a 500% surge. This significant increase in activity has analysts looking closely at the price action.

The biggest obstacle for ETH is the critical resistance level of $2,750, according to Martinez. If Ethereum can break above this region and hold it, buyers will have taken control, and the next major move could be upwards. However, there's a significant supply wall between $2,722 and $2,822, where over 13.3 million ETH changed hands.

If Ethereum surpasses the $2,750 region, one of the key targets to watch is the $3,400 level. This would mark a significant increase from current prices and could indicate a strong buying trend.