Ethereum Price Prediction: ETH Under Bearish Pressure Despite SharpLink’s $463M Purchase
Ethereum (ETH) continues to slide despite the significant $463 million purchase made by SharpLink Gaming, making the firm the largest publicly traded owner of ETH. The firm purchased 176,270.69 ETH at an average price of $2,626 and staked more than 95% of its position to secure the network while earning yield. Despite this, ETH is still on the back foot, down 6% amidst growing tensions in the Middle East and heavy futures liquidations. Ethereum is now at risk of further losses if it cannot keep pivotal support levels at around $2,500 and will drop to the $2,260 level, while a breakout over $2,850 can reignite bullish drive. KEY LOOKOUTS • SharpLink purchases 176,270.69 ETH for $462.9 million, the largest publicly traded holder of ETH, with 95% of its holdings staked for network security and yield. • Continued Middle East tensions, especially Israel’s attacks on Iran, are driving broad market volatility and downward pressure on ETH. • Ethereum is faced with serious support at $2,500 and the 38.2% Fibonacci retracement around $2,450. The inability to hold could send prices towards $2,260 or even lower to the $2,110-$2,260 zone. • The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are still moving lower, and the risk of further falls rises unless ETH picks up momentum over the $2,850 resistance level. In spite of the upbeat mood generated by SharpLink Gaming’s gigantic $463 million ETH purchase, Ethereum remains under bearish pressures fueled by rising geopolitical tensions and large futures market liquidations. The steep drop of 6% underscores the market’s sensitivity to outside macroeconomic and geopolitical conditions. While SharpLink’s action affirms faith in Ethereum’s long-term utility and network resilience, near-term price action continues to be vulnerable, with primary technical levels being tested. If Ethereum cannot sustain above $2,500 levels, more downside towards $2,260 becomes the probable direction. Ethereum is still under bearish pressure even after SharpLink’s $463 million purchase. Geopolitical tensions and liquidation of futures are still affecting the market. Leveling off at the crucial support of $2,500 can help avoid more downside towards $2,260. • SharpLink Gaming bought 176,270.69 ETH for $462.9 million, becoming the biggest publicly traded ETH owner. • More than 95% of SharpLink’s ETH reserves are staked, securing Ethereum’s network and earning yield. • Ethereum price fell 6% amidst the positive news because of increased Middle East tensions. • ETH was subject to $296 million in 24-hour futures liquidations that provided additional selling pressure. • Support levels of interest are $2,500 and the 38.2% Fibonacci retracement at $2,450. • In case of failure of support, ETH can fall to the $2,110–$2,260 level with 50-day and 100-day SMAs providing potential support. • RSI and Stochastic Oscillator technical indicators are signaling bearish momentum unless ETH crosses over $2,850 resistance. SharpLink Gaming has been grabbing all the news headlines with its aggressive entry into cryptocurrency with the purchase of 176,270.69 ETH for around $462.9 million. This acquisition not only makes SharpLink the largest publicly traded owner of Ethereum but also reflects increasing institutional faith in the long-term promise of blockchain technology. By staking more than 95% of its position, the company is directly supporting the network security and decentralization of Ethereum while at the same time accruing staking rewards, highlighting a thoughtful strategy for digital asset management. ETHEREUM DAILY PRICE CHART SOURCE: TradingView The takeover is made at a critical juncture in the Ethereum network, with real-world asset tokenization, regulatory clarity, and increasing institutional interest reshaping the wider crypto ecosystem. The wider industry sees Ethereum as becoming a fundamental element of financial infrastructure rather than part of the crypto ecosystem per se. With growing embracement of decentralized finance (DeFi) and forthcoming regulatory blessings from the SEC, Ethereum’s positioning as a settlement layer for financial systems and programmable money strengthens further, attracting major interest from investors and companies alike. TECHNICAL ANALYSIS Ethereum is now cruising through an intense technical region after being rejected in the vicinity of the $2,850 resistance. The price has come down since then by about 12%, dropping momentarily below the $2,500 level before a temporary halt at around the 38.2% Fibonacci retracement level of $2,450. The 50-day Simple Moving Average (SMA) coincides with the lower end of a very important channel and is an important support level. Failing that, Ethereum could drop down towards the range of $2,110–$2,260, where the 100-day SMA offers further support. On the positive side, retaking the $2,850 resistance is paramount to creating a bullish reversal towards the $3,400 level. FORECAST Ethereum would lose support if it cannot hold ground above the $2,500 level and the 38.2% Fibonacci retracement at $2,450. It could be subjected to more selling pressure and possibly continue to the $2,260 support level, with an eventual further slide to $2,110 if bearish forces persist. Having the 50-day and 100-day SMAs in this region might provide some short-term relief, but sustained geopolitical tensions and liquidations in the futures market might bear down on price action. On the upside, Ethereum needs to break above the $2,850 resistance level and hold on to indicate a change in sentiment. A successful break would trigger new buying pressure, and the price may reach the $3,400 resistance area. Favorable regulatory news, institutional inflow, and renewed market optimism can act as the trigger for this move.