Ethereum: buyback programs led to a 2.97% price rise

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Ethereum rises 2.97% today on renewed momentum

Highlights

Ethereum (ETH) trades at $3,450.62, up 2.97% daily but remains below both MA-20 ($3,802.40) and MA-50 ($4,049.06), indicating bearish near-term momentum.
ETHZilla sold 11,900 ETH for $40 million at an average of $3,338 per ETH to fund a $250 million buyback, repurchasing 600,000 shares and addressing discount to NAV.
Ethereum is expected to consolidate between $2,816.40 and $3,602.50 with under 20% probability of a breakout, while technical indicators show mixed momentum and oversold conditions.

Treasury conversions intensify as institutions act ahead of events

ETHZilla converted a portion of its Ethereum treasury into approximately $40 million in cash to finance a $250 million share buyback program, selling about 11,900 ETH at an average price of $3,338 per Ethereum. Of this amount, $12 million was used to repurchase around 600,000 shares, aiming to close the gap between the company's stock price and its net asset value linked to Ethereum holdings. Separately, SharpLink Gaming transferred 4,364 ETH valued at $14.47 million to the OKX exchange ahead of its Q3 earnings call, further reinforcing institutional activity in Ethereum treasuries.

Mixed oscillator signals as buyers retest resistance amid weak trend

Ichimoku analysis points to dynamic resistance near $3,675.73, with MA-200 at $3,396.83 as immediate support and MA-50 at $4,049.06 serving as a higher resistance. Daily momentum indicators display mixed signals — MACD and ADX reflect a bearish bias with weak trend strength, while RSI and CCI are in oversold territory. The Stoch RSI provides a strong buy signal, and BBP indicates sellers have dominated recently. The current session shows price action near the upper end of today's range, with moderate volatility and buyers regaining control despite diverging oscillator signals.

Limited upside expected as consolidation risk dominates outlook

For the upcoming week, Ethereum is expected to trade in a range of $2,816.40 to $3,602.50. A price increase is considered unlikely — with less than a 20% probability — favoring a scenario where the price consolidates between the outlined support and resistance. If ETH decisively breaks above $3,675.73, a move toward the upper weekly range may develop; a fall below $3,396.83 could set the stage for declines toward the $3,200 – $2,800 area.

Anton Kharitonov, expert at Traders Union, sees Ethereum under short-term bearish pressure, with price action still beneath key moving averages. Fundamental flows from entities like ETHZilla and SharpLink signal ongoing institutional interest, but technical momentum remains weak. He notes that mixed daily indicators and strong resistance near $3,675.73 keep the market vulnerable to renewed downside. "As long as Ethereum stays below the $3,675.73 resistance, any rallies should be viewed with caution and risks of further declines remain elevated."

Previously it was noted that the cryptocurrency market continued its downward trajectory on Wednesday, with major assets posting further losses amid persistent risk aversion and cautious investor sentiment. The article highlighted that the Fear and Greed Index remains deep in the “fear” zone, signaling growing unease among traders.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.