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BTC 
ETH Bitcoin and altcoins weaken, while Ethereum whale activity surges
After last week's surge, the upward momentum of Bitcoin and altcoins continues to weaken. Currently, the price of Bitcoin has dropped back to about $82,000, while Ethereum (ETH) has dropped to about $2,650.
However, Ethereum's large-scale investor activity has reached a significant level. According to data shared by cryptocurrency analyst Ali Martinez, large investors have accumulated more than 320,000 ETH in the past week. During the same period, the number of transactions worth more than $1 million on the Ethereum network surged from 1,202 to 7,113, an increase of approximately 500%.
Key resistance level for Ethereum: $2,750!
Given Ethereum's recent volatility, analysts pointed out that ETH is approaching a key price that may determine its next major move.
According to the analyst, the biggest obstacle facing ETH is the $2,750 area. Therefore, Ethereum must break through and stand firm above the region to confirm that buyers have regained market dominance.
Analysts further explained that ETH's current challenge lies in the distribution of chips previously traded at higher prices. He pointed out that there is currently a significant Supply Wall between $2,722 and $2,822.
According to the chart it shared, more than 13.3 million ETH have changed hands in the range of US$2,722 to US$2,822. This area is important because many investors buying in this range may choose to sell when ETH prices rebound near their cost prices.
Analysis believes that if Ethereum successfully breaks through the US$2,750 area, the next key target price that needs to be focused on will be US$3,400.
* The above content does not constitute investment advice.
