ETH news update: Can SharpLink Gaming, BitMine treasuries send Ether to $4K?
Main Idea
SharpLink Gaming and BitMine Immersion Technologies have significantly increased their Ether holdings, with BitMine now holding 360,807 ETH, potentially influencing ETH's price movement amid market fluctuations.
Key Points
1. BitMine Immersion Technologies reported holding 360,807 ETH, making it the largest public ETH holder.
2. ETH's price dropped from $3,860, breaking below the $3,745 support level, indicating profit-booking by short-term buyers.
3. The ETH/USDT pair could dip to the 38.2% Fibonacci retracement level of $3,494, with potential rebounds or further declines to $3,381 or $3,234.
4. A break below $3,494 might lead the pair to the 50% retracement level of $3,381 and the 20-day exponential moving average ($3,234).
5. The 20-EMA on the 4-hour chart has flattened, suggesting a potential bearish trend unless buyers push the price above $3,860.
Description
Ether price pulled back after a relentless run, but lower levels are likely to attract buyers.
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