ETH’s Wild Ride: Will Giants Push It to $4K? 🚀

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Key point:

  • Ether, that fickle darling of the crypto world, appears to be overbought, but the bulls, ever the languid aristocrats, are not hastening to their exits. 🎯

SharpLink Gaming and BitMine Immersion Technologies have been on an Ether (ETH) buying spree, akin to a Victorian society matron acquiring rare antiquities—except here, the “antiquities” are digital and the stakes are higher than a game of whist. BitMine claimed the top spot after it reported holding 300,657 ETH on Thursday, but Sharplink overtook it after the latest round of purchases last week, which boosted its holding to 360,807 ETH. One might say they’re competing for the title of “Most Generous Crypto Philanthropist.” 💰

Could ETH buying by public firms boost the price higher? Let’s analyze the charts to find out. *Ah, the thrill of speculation!* 🕵️‍♂️

ETH price prediction

ETH turned down from $3,860 on Monday and has broken below the $3,745 support, indicating profit-booking by short-term buyers. One might call it a “modest retreat,” but in crypto, even a step back is a sprint toward the abyss. 🚨

The ETH/USDT pair could dip to the 38.2% Fibonacci retracement level of $3,494. If the price rebounds off $3,494, it signals solid demand at lower levels. The bulls will then again attempt to drive the pair to $4,094. *A noble, if delusional, pursuit.* 🎩

— CryptoMoon (@CryptoMoon) July 23, 2025

Contrarily, a break and close below $3,494 could sink the pair to the 50% retracement level of $3,381 and subsequently to the 20-day exponential moving average ($3,234). The short-term advantage will tilt in favor of the bears on a break below the 20-day EMA. The pair may then plummet to $2,904. *A veritable freefall into the unknown.* 🌌

The 20-EMA on the 4-hour chart has flattened out and the RSI has dipped below the midpoint, indicating a balance between supply and demand. Buyers will have to thrust the price above $3,860 to open the doors for the next leg of the rally to $4,094. *A Herculean task, but then again, what is life without a little absurdity?* 🧠

On the contrary, a break and close below the 50-SMA suggests that bears are trying to make a comeback. The pair may plunge to $3,477 and later to $3,361. *A fitting end to a day’s work, if one enjoys the sound of coins clinking in a void.* 💸

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2025-07-23 20:12