- SharpLink Gaming bought 7,689 ETH, boosting bullish sentiment and treasury adoption narrative.
- ETH broke past key resistance at $2,738; eyes are now on $2,879 and $3,153.
- Short-term charts suggest a pullback is possible, but dips may be quickly bought up.
Ethereum is heating up again. After a solid rally this week, ETH is trading around $2,818, and the mood is shifting quickly in favor of the bulls. Much of the recent hype traces back to SharpLink Gaming, which announced a sizable Ether treasury purchase that has traders buzzing. The company scooped up 7,689 ETH between June 28 and July 4 at an average of $2,501—boosting its total holdings to a staggering 205,634 ETH worth over $533 million.
That move didn’t just turn heads—it sparked optimism that more firms could adopt a similar ETH treasury strategy, potentially clearing the path for a run toward the $3,000 mark and beyond.
ETH Breaks Key Resistance—What’s Next?
This week’s breakout above $2,738 was a big deal. That level had acted like a ceiling for a while, but ETH cracked through with strong volume, signaling real demand. The 20-day EMA has now turned upward, and the RSI is comfortably in bullish territory. That’s good news for buyers—and bad news for anyone trying to short this rally.
Sellers will likely defend the next hurdle at $2,879, but if bulls can push through it, a quick sprint to $3,153 is on the table. From there? It’s not crazy to think about $3,400 as the next major zone—though that’s assuming the momentum holds.
But Don’t Rule Out a Dip Just Yet
The flip side: RSI levels are creeping into overbought territory, which often signals a pause or pullback. If ETH slips below $2,738 again, the 20-day EMA at $2,561 becomes the level to watch. A healthy bounce there would confirm buyers are still active on dips.
If not, we might be stuck ranging between $2,111 and $2,879 for a while longer. That wouldn’t kill the rally—but it would delay any breakout dreams.
Short-Term Setup Looks Promising
On the 4-hour chart, ETH has already pushed above $2,800, but it’s flirting with short-term exhaustion. If it pulls back to the 20-EMA and bounces cleanly, that’d be a strong sign bulls are still buying every dip. But if that support fails, look for a slide to the 50-SMA, which might signal profit-taking is gaining steam.
Bottom line: if this momentum sticks—and if institutional ETH strategies continue gaining traction—Ether could be ready for another leg up.
