Key takeaways
- Ether is up 6% within the final 24 hours and now trades above $3,100.
- It’s the greatest performer among the many high 10 cryptocurrencies, outperforming BTC, XRP, and Dogecoin.
Ether tops $3,100 as market turns bullish
The cryptocurrency market has returned to its bullish sentiment following yesterday’s dip. Bitcoin, the main cryptocurrency by market cap, dipped beneath $116k on Tuesday after hovering to a brand new all-time excessive on Monday.
BTC has now returned above $119k after including 2% to its worth within the final 24 hours. Nevertheless, Ether is the perfect performer among the many high 10 cryptocurrencies by market cap because it now appears to be like to hit the $3,200 mark for the primary time since February 2025.
Ether’s rally comes as Nasdaq-listed SharpLink Gaming (SBET) flipped the Ethereum Basis to develop into the most important company holder of ETH after buying 74,656 ETH for $213 million final week.
In line with its latest press release, the corporate earned 94 ETH from staking final week. Its latest acquisition now brings the corporate’s holdings to 280,706 ETH. SharpLink made this latest acquisition after elevating $413 million from the sale of 24.5 million shares of its widespread inventory via its At-The-Market (ATM) facility final week. The corporate nonetheless has a stability of $257 million from proceeds that haven’t but been allotted to ETH purchases.
ETH eyes $3,437 resistance stage
The ETH/USD 4-hour chart is bullish however inefficient, suggesting that Ether might seemingly sweep liquidity to the draw back earlier than rallying greater. The technical indicators are bullish, suggesting an prolonged interval of rally for the cryptocurrency.
Ether might seemingly drop to $3,080 to achieve effectivity earlier than rallying to the primary main resistance stage at $3,437. Within the occasion of an prolonged rally, Ether might hit the $3,519 stage for the primary time since January 19.
Nevertheless, the bears might nonetheless regain management if the bulls fail to push ETH greater. If that occurs, ETH might seemingly take a look at the TLQ at $2,946 within the coming hours. Nevertheless, the market will should be extraordinarily bearish for Ether to check final week’s low of $2,805.
The RSI of 70 and the MACD traces within the optimistic zone each recommend a bullish bias for Ether.
