#AltcoinSeasonLoading Current Dynamics

The ETH/USD pair experienced a notable increase in value last week, reaching its highest levels in February in the 3080.00 range the day before.

At the end of May, the U.S. Securities and Exchange Commission (SEC) issued a ruling stating that storage on networks using Proof-of-Stake is not considered a securities transaction, significantly increasing institutional investors' interest in the Ethereum blockchain. This contributed to a rise in the volume of coins in wallets, aimed at later being used as treasury assets, and the storage for passive income. In the past thirty days alone, companies have accumulated approximately 545,000 ETH worth about $1.6 billion, with the largest holder now being the gaming platform SharpLink Gaming Inc., which holds 255,000 coins in its assets.

Technical indicators confirm the likelihood of continued upward movement: Bollinger Bands are trending upwards, the MACD indicator is increasing in the positive zone, and the stochastic indicator is horizontal in the overbought area, which does not rule out the possibility of a correction, although the likelihood of it is limited.

Resistance Levels: 3281.25, 3437.50.

Support Levels: 2656.25, 2187.50, 1875.00.