Ethereum's Final Hurdle Approaches at $2,700-$2,750
Popular crypto chart analyst Ali Martinez says Ethereum is approaching a crucial point that could decide its next major move. With ETH trading near $2,696, Martinez notes that buyers face a final hurdle around $2,700, $2,750.
The key challenge lies in the amount of ETH previously traded at higher levels, with over 13.3 million coins changing hands between $2,722 and $2,822.
Despite this supply wall, whale activity is rising, with transactions worth more than $1 million increasing by nearly 500% to 7,113 in one week.
The large holders added more than 320,000 ETH, worth around $864 million at current prices, which could absorb the available supply and make the breakout easier. Strong institutional demand is also supporting Ethereum, with U.S. spot ETFs recording six consecutive days of inflows totaling about $690 million.