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

Ethereum price jumped 7% in the last 24 hours, trading at $4,160 as of 4:00 a.m. EST, a 173% increase in daily trading volume to $40.8 billion.

ETH’s momentum picked up after SharpLink, a Nasdaq-listed company, made a new $78-$81 million acquisition of around 19,000 ETH, resuming its buying spree after a short hiatus. This latest move adds to SharpLink’s massive treasury of over 270,000 ETH.

🚨 BREAK:

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

Institutions continue to pile up quietly while everyone else is distracted…

Large sums of money are accumulating on Ethereum!$ETH / $SBET / $BMNR pic.twitter.com/MqfTGebz82

-BMNR Bullz (@BMNRBullz) October 26, 2025

The company has gradually consolidated its position since June, now posting an unrealized profit of more than $81 million. The SharpLink treasury strategy has also attracted interest from other companies, who are beginning to follow suit and accumulate large amounts of Ethereum for their balance sheets.

This growing institutional demand echoes the Bitcoin treasury trend seen in previous years and provides a strong boost to the price of Ethereum.​

Ethereum Price Supported by Whale Accumulation

Ethereum whales are quietly returning to the market after a massive sell-off in mid-October. Analytics from Santiment and other sources show that wallets holding between 100 and 10,000 ETH raised about 218,000 ETH in less than two weeks, or about a sixth of what they were previously selling for.

This return to accumulation is generally observed when large players expect prices to rise again. The resumption of buying by whales and sharks (large holders) coincided with the price of ETH rapidly rising from the low $3,900 zone to over $4,150. On-chain experts see this as a strong sign that large holders believe in continued momentum and are positioning themselves for a possible end-of-year rally.

Ethereum Price Holds Key Levels and Prepares for New Highs

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

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

The latest price movement took ETH to a high near $4,957 before a slight pullback, but it remains well above key support between $3,850 and $3,950. The $4,950 area is now immediate resistance.

Technical indicators support a positive outlook. The RSI (Relative Strength Index) is at 57.21, which shows the continued strength of the buyers.

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

ETHUSD analysis source: Tradingview

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

If Ethereum price breaks above the $4,950 resistance zone, ETH could quickly test the $5,924 zone, matching Fibonacci extension targets from this year’s lows and highs.

A further move above $6,000 is possible if whales and institutions continue to strengthen their positions and new ETF inflows arrive.

Below current levels, initial support lies at $3,950, where the market has rebounded from recent pullbacks. If ETH drops below this level, buyers will likely defend long-term support near the 50-week SMA at $3,151, which has protected the downside throughout this rally.

With institutional activity increasing and on-chain accumulation making a comeback, analysts see a strong chance for ETH to maintain its gains and even reach new highs before the end of the year. Some predict price targets between $7,000 and $8,000 by December if the current trend continues, pointing to parallels with Bitcoin’s past rallies following its halving.

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

Nonetheless, with ETH price above all major technical levels and whale wallets back in accumulation mode, the uptrend is expected to continue, making Ethereum one of the most watched cryptos over the coming weeks.

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