$ETH Ethereum has shown impressive strength, recently surging 10% to reach $2,800, its highest level in over 15 weeks. However, it has consistently struggled to break above the $2,800 mark, coinciding with an increase in downside protection strategies in ETH derivatives markets.

*Key Market Insights:*

- *Options Trading:* Open interest in ETH options has increased to $8.3 billion, signaling stronger institutional involvement. Deribit dominates the market with a 72% share.

- *Trader Sentiment:* Despite bearish positions, 63% of total open interest is in call options, indicating optimism about the June 27 monthly options expiry.

- *Resistance Levels:* 92% of Ether put options are set at $2,700 or lower, which would expire worthless if ETH trades above that mark at expiry ¹.

*Market Dynamics:*

- *Competition:* Ether's competitive edge might be impacted if the US SEC approves ETFs for rival altcoins like Solana (SOL) and XRP.

- *Bitcoin's Influence:* Concerns about Ether's institutional appeal emerged after Trump Media announced a $2.5 billion debt and equity issuance to build a Bitcoin treasury.

*Current Price:* ETH is trading at $2,795.79, with a 4.79% increase ².