This week, the price of Ethereum (ETH) demonstrated a sharp increase, leading to positive forecasts for an upcoming rally. One of the contributing factors to this growth is the recent purchase of ETH by SharpLink Gaming.
SharpLink Gaming's Ethereum Purchase
SharpLink Gaming acquired 7,689 Ether between June 28 and July 4 at an average price of $2,501 per unit. This move increased the company's holdings to 205,634 ETH, worth over $533 million.
ETH Price Prediction
ETH prices surged sharply on Wednesday, breaking through the overhead resistance at $2,738. Indicators suggest increased buyer activity. If conditions remain favorable, ETH could reach $3,153.
Market Analysis and Possible Scenarios
Uncertainty prevails as sellers may attempt to pull the price below the $2,738 level. Should this occur, prices could dip to critical levels such as the 20-day exponential moving average, currently at $2,561.
The recent Ether purchases by SharpLink Gaming, alongside positive market trends, generate hopes for further price rallies in Ethereum. However, heightened volatility and uncertainty call for careful analysis.
