Corporate Adoption Boosts Ether Demand 12207 ETH Purchased

Ether (ETH) has been demonstrating strength as more companies incorporate it into their treasury strategies, leading to increased demand. BitMine Immersion Technologies and Bit Digital have recently announced plans to include Ether in their treasury strategies. Additionally, SharpLink Gaming, a sports betting company, has significantly boosted its Ether holdings, purchasing 12,207 Ether in the week ending June 20, bringing its total holdings to 188,000 Ether.

This trend of corporate adoption of Ether as a treasury asset is expected to have a positive impact on the price of Ether. According to the analyst's forecast, if the price of Ether sustains above the 50-day simple moving average of $2,529, the ETH/USDT pair could climb to the $2,738 to $2,879 zone. However, sellers are expected to fiercely defend this overhead zone. If the price turns down sharply from this zone, the pair may extend its stay within the $2,879 to $2,111 range for some time.

The next trending move is expected to begin on a break above $2,879 or below $2,111. If the $2,879 level is scaled, the pair could rally to $3,400. On the other hand, a break below $2,111 could sink the pair to $1,800. Buyers have pushed the price above the $2,521 resistance, opening the gates for a rally to $2,680. The upsloping 20-exponential moving average and the relative strength index (RSI) in the positive territory indicate an advantage to buyers. Dips are likely to find buyers at the 20-EMA. If that happens, the possibility of a rally to $2,738 increases.

The first sign of weakness will be a break and close below the 20-EMA. That suggests the bears are selling aggressively. That could sink the pair to the 50-SMA and subsequently to $2,373. This trend of corporate adoption of Ether as a treasury asset is expected to have a positive impact on the price of Ether. However, it is important to note that every investment and trading move involves risk, and readers should conduct their own research when making a decision.