Ethereum News Today: Ethereum Surges 10% to $3,145 as SharpLink Accumulates 312,000 Coins

Ethereum's price has surged above $3,100, driven by SharpLink's continued acquisition of ETH, which now totals nearly 312,000 coins. This accumulation has led market participants to view Ethereum as a strategic treasury asset. The price is currently consolidating near the apex of a key multi-month triangle on the weekly chart, a region historically associated with significant price movements.

The current Ethereum price stands at $3,145, with resistance levels at $3,298 and $3,520, and support levels at $3,020 and $2,905. Technical indicators such as the EMA Cluster (4H) and Bollinger Bands (4H) show a bullish trend, with the EMA Cluster stacked below the price and the Bollinger Bands expanded and holding the upper band. The RSI (30-min) is at 64.37, indicating bullish momentum without divergence, while the MACD (30-min) shows a bullish crossover with slight flattening. The ChandeMO (1D) is at 94.96, signaling strong momentum, and the Volume Profile (1D) identifies $3,298 as a key resistance zone. The Supertrend indicator is bullish across all intraday frames.

The daily structure shows Ethereum breaking above the $2,850–$3,000 resistance band with rising momentum, currently trading near $3,145. The Chande Momentum Oscillator indicates extreme bullish strength, with a value of 94.96, the highest reading since late 2021. On the monthly timeframe, Ethereum is nearing the upper trendline of a multi-year triangle, with a large symmetrical compression dating back to 2022. If the price clears the $3,298–$3,320 resistance band, the next targets could be $3,520 and then $4,100, based on Fibonacci extensions and historical volume nodes.

The upward trend in Ethereum's price is driven by continued corporate accumulation and strong technical alignment. SharpLink's ETH holdings now total approximately 312,000 coins, worth over $974 million, including a recent direct purchase of 10,000 ETH from the Ethereum Foundation. Most of these holdings are staked or restaked, reducing available supply and intensifying upward pressure.

On the derivative side, ETH open interest is up 7.03% to $46.31 billion, with long/short ratios on Binance exceeding 2.23 among top trader positions. Daily volume has jumped nearly 29% to over $124 billion, reinforcing bullish sentiment. Despite overbought signals, the upward flow remains intact due to real spot accumulation and yield-based staking by institutions.

On the 4-hour chart, Ethereum price action remains comfortably above all major EMAs, with the 20, 50, 100, and 200 EMA cluster between $2,770 and $2,902 acting as strong dynamic support. Bollinger Bands are expanded, and the price is holding near the upper band, suggesting a fresh volatility cycle remains active. The 30-minute RSI stands at 64.37, hinting at continued bullish momentum without showing full exhaustion. MACD is still in bullish territory but shows early signs of flattening, indicating possible short-term cooling. Parabolic SAR dots remain below the price across all intraday timeframes, maintaining the uptrend structure.

The Volume Profile shows the $3,298 zone as the next major supply pocket, aligning with weekly Fibonacci resistance (Fib 0.618 at $3,298) and prior rejection zones from November 2024. A clean break above this could unlock a run toward the Fib 0.786 level at $3,524.

For the short term, if Ethereum price today holds above $3,100, bulls are likely to attempt a breakout above the $3,298–$3,320 resistance range. If successful, this could pave the way toward $3,520 and $3,700 in extension. The triangle apex breakout also supports this trajectory, provided volume confirms the move. On the downside, initial support lies at $3,020 (20 EMA on 4H) followed by a stronger cushion near $2,905–$2,920 where the Bollinger mean, EMA cluster, and prior breakout retest converge. A drop below this region would signal temporary exhaustion, possibly triggering a pullback toward the $2,770–$2,800 zone. While indicators are near overbought territory, the absence of bearish divergence and steady volume inflow suggest the move could extend, especially if broader crypto market momentum persists.