Ethereum Breaks Resistance, SharpLink Buys $23M ETH as Bulls Face Uncertainties

Ethereum has achieved a significant milestone, surpassing the $4,500 mark and testing resistance near $5,000. Despite this bullish momentum, market trends remain uncertain, with investors cautiously observing signs of potential retracement. A recent transaction by SharpLink Gaming, transferring $23.46 million USDT to Galaxy Digital’s OTC desk, signifies significant Ethereum accumulation. This follows a surge in overall buying activity amidst an ongoing rally that reached its ATH last week. Technical indicators offer mixed signals, with RSI divergence near overbought levels hinting at possible retracement despite a structural breakout.