According to CoinMeta, analyst Ali Martinez pointed out that Ethereum is currently facing a key resistance level of $2,750; if it breaks through this area, the target would be $3,400. Over the past week, more than 320,000 ETH were accumulated by large traders, and the trading volume of ETH surged by nearly 500% within a week. Martinez believes that with increased whale activity and strong inflows of ETF funds, Ethereum is testing this important resistance range.