Ethereum’s Institutional Surge: New Bulls Join as ETH Breaches $3,000

Public corporations are building their reserves of ETH more and more. Companies like Sharplink Gaming and Bitmine Immersion Technology have disclosed ETH holdings as part of their balance sheets, indicating rising institutional confidence in Ethereum as a treasury asset.

ETHUSD surged above $3000 as Bitcoin hits all-time high. It hits an intraday high of $3030 and is currently trading around $3011.

Overall trend remains bullish  as long as support $2000 remains intact. Watch out for $3020, any break above targets $3400/$3600/$3800/$4000. A robust bullish trend will only materialize above $4100.

Immediate support is around $2770. Any violation below will drag the price down to $2650/$2534/$2435/$2374/$2000/$1750/$1675/$1620/$1500/$1200/$1000. A breach below $1000 could see Ethereum plummet to $800/$500.

It is good to buy on dips around $2880 with SL around $2675 for a TP of $3000/$4000.