ETH Treasury Purchases: Will Ether Soar to $3K?

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Key point:

  • SharpLink Gaming’s ETH treasury purchase has boosted investor sentiment, paving the way for a potential rally to $3,153.

Ether (ETH) has been on a roll this week, leading many analysts to predict a rally to $3,000 before the end of July. Traders attribute the recent bullish momentum to an increase in spot ETH ETF inflows and multiple corporate Ether treasury announcements.

SharpLink Gaming revealed that it had purchased 7,689 Ether (ETH) between June 28 and July 4, at an average price of $2,501. This has increased the sports betting firm’s holdings to 205,634 ETH, worth over $533 million. Could ETH prices rally in anticipation of more companies adopting an ETH treasury strategy? Let’s take a look at the charts to find out.

ETH Price Prediction

ETH surged sharply on Wednesday, breaking above the stiff overhead resistance of $2,738, indicating aggressive buying by the bulls. The 20-day exponential moving average ($2,561) has started to turn up, and the relative strength index (RSI) is in positive territory, indicating an advantage to buyers. Sellers are expected to fiercely defend the $2,879 level, but if the bulls prevail, the ETH/USDT pair could surge to $3,153 and later to $3,400.

On the other hand, a break below the 20-day EMA suggests the pair may remain inside the $2,111 to $2,879 range for some more time.

The RSI on the 4-hour chart has entered overbought territory, suggesting a pullback or consolidation in the near term. If the price slips below $2,738, the pair could reach the 20-EMA on the 4-hour chart. A solid bounce off the 20-EMA shows that the sentiment remains positive and the bulls are buying on dips. That increases the likelihood of a rally to $2,879.

Contrarily, a break and close below the 20-EMA suggests the bulls are booking profits in a hurry. That may pull the pair down to the 50-simple moving average.

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2025-07-10 22:42