Ethereum price rises 7% on $81 million purchase of SharpLink Gaming

Ethereum price is up 7% over the past 24 hours, trading at $4,160 as of 4 a.m. EST, on a 173% increase in daily trading volume to $40.8 billion.

ETH’s momentum accelerated after SharpLink, a Nasdaq-listed company, made a new acquisition of approximately 19,000 ETH worth $78-81 million, and resumed its buying spree after a brief pause. This latest move adds to SharpLink’s massive treasury of over 270,000 ETH.

🚨 BREAK:

🇺🇸 SharpLink bought 19,271 $ETH worth $78.3 MILLION 💥

Settings keep piling up quietly while everyone is distracted…

A lot of money is being loaded onto Ethereum!$ETH / $Sbet / $BMNR pic.twitter.com/MqfTGebz82

— BMNR Bullz (@BMNRBullz) October 26, 2025

The company has been steadily building its position since June and now boasts unrealized profits of more than $81 million. The SharpLink treasury strategy has also attracted interest from other companies, which are starting to follow suit and amass large stacks of Ethereum for their balance sheets.

This growing institutional demand mirrors Bitcoin Treasury’s trend from previous years and provides strong momentum for the Ethereum price.

Ethereum price supported by whale accumulation

Ethereum whales are quietly piling back into the market after a mid-October sell-off. Analyzes from Santiment and other sources show that wallets holding between 100 and 10,000 ETH have accumulated around 218,000 ETH in less than two weeks, equivalent to about a sixth of what they were previously selling.

This return to accumulation is usually seen when major players expect further price strength. The renewed buying by whales and sharks (large holders) coincided with the ETH price quickly moving from the low $3,900 zone to above $4,150. On-chain experts see this as a strong sign that major holders believe in continued momentum and are positioning themselves for a potential year-end rally.

Ethereum price holds key levels and prepares for new highs

Looking at the Ethereum price chart, ETH has hit higher lows and higher highs since late summer. The weekly chart is now displayed ETH above important moving averages.

The 50-week SMA (Simple Moving Average) is at $3,151 and the 200-week SMA is at $2,449, which is a clear sign that bulls are in control of the trend.

The latest price move took ETH to a high near $4,957 before a slight decline, but it remains well above the key support at $3,850-$3,950. The $4,950 area now acts as immediate resistance.

Technical indicators support a positive outlook. The RSI (Relative Strength Index) stands at 57.21 and shows stable buying power.

Meanwhile, the MACD (Moving Average Convergence Divergence) has turned bullish with the main line above the signal, further indicating that buyers are still in control.

ETHUSD analysis source: Tradingview

The ADX (Average Directional Index) is at 24.83, indicating that the trend is gaining strength but not overheated.

If Ethereum price breaks past the USD 4,950 resistance zone, ETH could quickly test the USD 5,924 area, which aligns with the Fibonacci extension targets derived from this year’s swing lows and highs.

Further gains above $6,000 are possible if whales and institutions continue to add to their positions and new ETF inflows arrive.

Below current levels, initial support is at $3,950, where the market has rebounded after recent pullbacks. If ETH falls below this level, buyers will likely defend the longer-term support near the 50-week SMA at $3,151, which has protected the downtrend throughout this rally.

With institutional activity increasing and on-chain accumulation back in effect, analysts see big opportunities for ETH to maintain its gains and even soar to new highs before the end of the year. Some are predicting price targets of $7,000 to $8,000 in December if the current trend continues, pointing to parallels with Bitcoin’s previous post-halving rallies.

However, as with all major price increases, there remains a risk of short-term volatility if whales decide to take profits or if the broader crypto market unexpectedly weakens.

Still, the uptrend appears to be continuing, as ETH price is above all major technical levels and whale wallets are back in accumulation mode, making Ethereum one of the most watched cryptos for the coming weeks.

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