#ETH Recently, Ethereum's market performance can be described as resilient. Despite the uncertainty and selling pressure facing the entire market, it remains firmly supported above $4,200. However, it seems that a breakthrough at the $4,500 level requires some timing, as the bull forces in the market appear unable to lead the next stage of rise. This situation has made investors somewhat cautious, especially after experiencing Ethereum's recent price highs, as the market begins to bear the weight of profit pullback and volatility.

However, while market sentiment is low, some institutional activities serve as a "lifeline." On Tuesday, SharpLink Gaming—the first company to go public on Nasdaq and implement an Ethereum reserve strategy—purchased 39,008 Ether at an average price of $4,531. This move highlights the increasing appeal of Ethereum as a strategic reserve asset among businesses and institutions, illustrating how large entities are repositioning themselves in the crypto market.

The SharpLink action highlights Ethereum's unique positioning in the market. Although the price faces resistance, the solid fundamentals driven by institutional demand keep it steady on structural support. The coming weeks could be a critical moment: either Ethereum gains new momentum to break upward, or persistent selling pressure will force the price to retest below $4,200. However, at this time, institutional confidence remains a strong support.

According to analyst Maartunn's observation, SharpLink has accumulated 837,230 Ether, with a market value of approximately $361 million. This makes SharpLink one of the giants in the Ethereum space and highlights how corporate reserves and large funds are slowly but steadily integrating Ethereum into their long-term strategies. Notably, this accumulation is occurring at a time when market sentiment is relatively weak, and many retail investors and analysts appear to be extremely cautious due to recent volatility.

The difference between this sentiment and institutional activity is a key point. Retail investors are often influenced by short-term price fluctuations and fear, while institutions tend to accumulate during uncertain periods to prepare for the long term. SharpLink's growing Ether reserves reveal a broader trend of quiet accumulation, which in the past has often signaled significant recovery or sustained rise in prices.

The fundamentals of Ethereum have consistently provided strong support for this strategy. Even in the face of selling pressure, the strong demand for Ethereum above $4,200 remains evident, as institutions seem to be taking advantage of the market weakness to increase their exposure. This behavior indicates their confidence in Ethereum's core role in the digital economy, particularly in decentralized finance, staking, and asset tokenization.

If retail investors' fear continues while institutional accumulation persists, a significant breakthrough may be laid once selling pressure eases. In this context, SharpLink's continuously expanding positions remind us that smart money often does not follow the crowd, quietly accumulating when others hesitate. This difference may ultimately determine Ethereum's trend in the next phase of the cycle.

On the weekly chart, Ethereum is consolidating above a key resistance level. After the rise earlier this year, the current price is around $4,429, firmly standing above the important $4,200 demand zone, and has once tested close to the $4,800 high. This price movement indicates that while the market is strong, it is facing selling pressure, and the bull momentum is trying to hold on.

In the long term, the structure is optimistic. Ethereum has reclaimed all major moving averages, with the 50-week moving average slowly rising to around $2,900, while the 200-week moving average is around $2,445. This trend signifies a shift in market structure from a bear market to a more defined bull market phase. A strong rally from below $2,000 at the beginning of 2025 has achieved an increase of over 100%, and the current consolidation may be a healthy reset to await the next wave of rise.

However, the resistance in the $4,500–$4,800 range remains a key point. If this range can be broken, Ethereum is expected to retest the psychological level close to $5,000, while if it falls below $4,200, it may trigger a deeper pullback, dropping towards $3,800 or even the $3,200 area where the 100-week moving average is located.