Recent developments in the Ether market are attracting interest from analysts and investors. Public companies SharpLink Gaming and BitMine Immersion Technologies are actively increasing their Ether reserves, raising questions about future price trends.
Public Companies Ether Purchases
SharpLink Gaming and BitMine Immersion Technologies have significantly increased their reserves of Ether in recent weeks. Currently, BitMine holds the top position with 300,657 ETH. However, following recent purchases, SharpLink Gaming's holdings have risen to 360,807 ETH, allowing the company to take the lead among public ETH holders.
Current Market Situation of ETH
At present, the price of ETH has retreated from the $3,860 mark and has fallen below the support level of $3,745, indicating that short-term buyers are taking profits. The ETH/USDT pair may dip to the 38.2% Fibonacci retracement level at $3,494. If the price rebounds from this level, it could signal solid demand at lower levels.
ETH Price Forecast
If ETH manages to stay above $3,494, a retest of $4,094 may be possible. Conversely, if the pair breaks below $3,494 and closes lower, it may drive prices down to $3,381 and potentially down to the 20-day exponential moving average at $3,234. In a negative scenario, further decline to $2,904 could occur.
Ether purchases by public companies like SharpLink Gaming and BitMine could have a significant impact on the market. However, the current price movements suggest both upward and downward potential, requiring careful analysis for a more precise forecast.
