Ethereum Tests $2,700 Resistance as Whale Demand Builds

Ethereum is approaching a technically important resistance zone that may determine whether the market extends its current advance or pauses for consolidation. At about $2,696, the token is trading just below the $2,700 to $2,750 range that analyst Ali Martinez identified as the final near-term barrier.

The setup matters because price action around this area has the potential to define the next leg of the trend. A sustained move above resistance would likely improve momentum conditions and invite follow-through buying. Failure to clear the zone, however, could leave ETH vulnerable to a short-term pullback or range-bound trading.

Supportive flows are helping Ethereum hold its ground. Martinez pointed to rising whale activity, which often signals larger holders are positioning ahead of a potential move. In addition, ETF inflows continue to offer a structural bid, reinforcing demand as ETH tests resistance.

The broader backdrop is also constructive. The Fear and Greed Index stands at 70, indicating a risk-on market environment that typically favors higher-beta crypto assets. Even so, traders are likely to remain focused on whether Ethereum can convert this resistance band into support before calling for a more durable breakout.