#AltcoinSeasonLoading #ETHBreaks3k #

Ethereum (ETH) is showing strong upward momentum, having recently surpassed $3400 following significant inflows into spot exchange-traded funds. The chart exhibits a clear breakout pattern, with targets ranging between $3600 and $3700 in the short term. The main support level is around $3200 and $3000, which needs to hold to maintain this trend. Ethereum is trading above its 20, 50, 100, and 200-day exponential moving averages, indicating sustained strength. The Relative Strength Index (RSI) is in an upward zone but has not yet reached overbought territory, supporting further upside. On-chain trading activity is strong, with increases in storage and daily transactions. Institutional interest is growing, with significant capital inflows from exchange-traded fund products. However, a drop below $3200 may indicate a pullback. The overall structure favors the upside, supported by technical and fundamental indicators. Nonetheless, macroeconomic factors or changes in sentiment regarding exchange-traded funds could cause volatility.