Ethereum climbed 15% over the past week, trading near $2,750 as analysts flag a critical technical zone that could open the door toward $3,000 and beyond. The rally coincides with FTX's bankruptcy estate routing $75 million in ether through market maker Wintermute, while traders keep pulling ETH off Binance at a pace not seen in three years.
An 'Interesting Zone'
Ethereum has surged 15% over the past week, rising to well above $2,700 alongside a broader market rebound. Most analysts remain optimistic the revival could turn into a fuller run, with some projecting a fresh all-time high.
X user Wealthmanager believes ETH could reach $3,000 relatively soon, pointing to little resistance between $2,750 and $3,000. Analyst Michael van de Poppe argues Ethereum is entering an "interesting zone," saying a break higher could shift the market into an entirely new range. According to van de Poppe: "the next area of resistance is likely $3,400".
Other traders are more aggressive. Trader Tardigrade spotted an inverse head-and-shoulders pattern on ETH's three-day chart, projecting a rally to $4,100. X user Gerla forecasts a move toward a new historical peak of $10,000. Meanwhile, ETH investors have been pulling the token off Binance at a pace not seen in three years, a shift that reduces immediate selling pressure.
FTX Estate Moves $75 Million to a Market Maker
The rally is unfolding as FTX and Alameda Research's liquidation team transferred 27,372 ETH worth roughly $75.32 million to Wintermute across six wallets on Tuesday, according to onchain analyst EmberCN. Separately, lookonchain flagged a 23,639 ETH deposit worth $65.05 million tied to the same operation, though it hasn't been confirmed whether the tokens were sold.
Estates route large sales through over-the-counter desks like Wintermute because dumping the position on open order books would print on every chart and invite front-running. That lets the position bleed out over days instead of moving the price against the seller.
A Better Bid Than Earlier in the Year
Ether is trading near $2,750, up 15% across the week, with a market cap north of $338 billion. One over-the-counter whale accumulated 15,000 ETH worth $41.26 million on the same day, lifting a position built since July to 52,000 ETH. The FTX Recovery Trust has paid creditors roughly $11 billion across five distribution rounds so far, and the estate has been converting holdings steadily to feed that pipeline.
Sources: CryptoPotato, Bitcoin.com News
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