The supply of on-chain stablecoins continues to rise, and the DeFi Lock-up Position continues to hit new highs for the year. The Pectra upgrade Testnet is set to launch on June 12, with the Mainnet expected to go live by the end of July, which will enhance network performance and provide support for Ethereum's medium- to long-term performance. The number of daily active Addresses on the Ethereum network continues to climb, with daily transaction volumes remaining high and average Gas fees staying at a reasonable level. All these indicators suggest that the activity level of the Ethereum ecosystem is continuously increasing.

Resistance and support levels

In terms of resistance levels, the short-term resistance level is at $2730 (previous high), and the medium-term resistance level is at $2800 (psychological barrier). In terms of support levels, $2650 is the support after the breakout retest, and $2600 is the key support level.

The above content is compiled from publicly available information and does not constitute investment advice.