ETH Surges to 3-Month High Amid SharpLink Buy and ETF Inflows

Ethereum has become the main catalyst behind this week’s bullish rally. Over the past seven days, ETH has gained more than 18%, reaching $2,789 (its highest level in three months). For the first time since February, the asset has confidently broken above $2,700 and held firm above key support near $2,650.

Meanwhile, investor interest is also picking up: 

• According to CoinMarketCap, Ethereum was the most talked-about asset in May 2025. 
• Trading volume supports the momentum, hitting $34.2 billion in 24 hours, one of the highest levels this month.

The technical setup shows a stable continuation pattern. On the daily chart, Ethereum has formed a bull flag—a classic accumulation pattern ahead of a potential breakout. If momentum holds, the next target may shift to $3,000, with $3,500 and $4,000 in view should resistance break. 

Fundamentals

The key driver was SharpLink’s announcement of a $425 million ETH purchase, positioning itself as the first public company to hold Ethereum as a corporate reserve. Consensys, Galaxy Digital, Pantera, and other major funds back the deal. 

Ethereum co-founder and Consensys CEO Joseph Lubin joined SharpLink’s board of directors, reinforcing the strategic significance of the move. This is the first instance of Ethereum being formally integrated into the structure of a public company, similar to how Strategy positioned BTC.

Notably, part of the acquired ETH is expected to be staked, reducing the liquid supply and adding further pressure on availability amid rising demand, particularly with the growth of L2 ecosystems.

ETH Technical Analysis 

Ethereum’s price action suggests the current rally is structurally sound rather than impulsive: 

• Breakout above the $2,700 resistance zone
• Consolidation above $2,750
• Gradual push toward the $2,800–$2,900 range 

This final zone has historically capped upward momentum; however, in the current setup, it is viewed as the last barrier before a potential test of $3,000.

Support levels:

• $2,650: aligns with a consolidation zone and high liquidity area 
• $2,400: matches the 200-day EMA and a long-term trendline, acting as a potential final buffer in case of a deeper correction

Currently, the RSI remains at 71, signaling strong momentum without entering overbought territory.

The MACD has moved into a steady bullish zone, while the Supertrend stays in the green phase, confirming the ongoing trend.

Ultimately, the bullish scenario will be validated if Ethereum breaks through $2,900 and holds above $3,000. This could trigger a move toward $3,500 and, eventually, into the $4,000 range, where several mid-term targets converge.