Ethereum finished the quarter with its best performance in over three years, testing critical resistance while US government ETH holdings increased.
Ethereum's Price Fluctuations for the Quarter
Over the past year, Ethereum has experienced three distinct phases. In one quarter, ETH dropped more than 45%. However, subsequent periods saw recoveries of +36% and +70% in the latest quarter.
Analyst Daan Crypto Trades noted that these results marked the strongest quarter since early 2021, when Ethereum entered a broader bull cycle.
Resistance Testing at $4,500
The ETH price traded in a key range between $4,000 and $4,700. Analysts say this level represents an important support area on the chart. If Ethereum holds above this zone, a move toward $7,500 to $8,000 may be projected. However, rejection could lead to a pullback to around $3,500 support.
Increase in US Government ETH Holdings
Blockchain data revealed that US government ETH holdings increased to over $281 million after receiving 76.56 ETH linked to the Uranium Finance case. This underscores the growing role of officials in digital assets and places the government as a notable holder in the token market.
The short-term outlook for Ethereum will depend on its price behavior around $4,000 to $4,700. Increased volatility is expected, with government-controlled holdings playing a key role.
