Ethereum Price Prediction: SharpLink Increased Holdings by 77,000 Tokens Over the Weekend, ETH Supply Aims to Break Through the $6,000 Target

Ethereum (ETH) follows the market rebound, reporting a temporary price of $3,849 in the Asian early session today (28). SharpLink Gaming purchased over 77,000 ETH and staked them over the weekend, with a total value of approximately $296 million. Analysts state that Ethereum ETF has seen inflows for 17 consecutive days, and a supply shock may be imminent.

According to on-chain analyst Yuzhen's report, SharpLink Gaming has purchased a large amount of 77,206 ETH over the weekend, with a total value of approximately 296 million USD, and has fully deposited it for staking. Specifically, SharpLink Gaming transferred 145 million USD USDC to Galaxy Digital the day before yesterday, and Galaxy Digital subsequently withdrew about 38,600 ETH (worth 148 million USD) from several exchanges and transferred it to SharpLink Gaming.

In addition, the relevant address withdrew 41,000 ETH (valued at $158 million) from the CEX exchange last night, and transferred 38,606 ETH to the SharpLink Gaming address 7 hours ago, which is also expected to be for purchase.

Ethereum spot ETF has set a historical record for 17 consecutive days of inflows, reaching 453 million USD in just one day on Friday, with total assets reaching 20.66 billion USD.

BlackRock's ETHA leads with a daily inflow of $440 million, becoming the second largest inflow U.S. ETF this week.

(Source: SoSoValue)

Continuous institutional demand has resulted in a cumulative inflow of $9.33 billion, with a weekly net inflow of $1.8 billion, while the Bitcoin ETF amounts to only $71 million.

Matt Hougan, chief information officer of Bitwise, estimates that ETH ETF demand could reach $20 billion next year, equivalent to about 5.33 million ETH at current prices.

Due to the expectation that Ethereum will only issue 800,000 ETH during this period, the demand may exceed the supply by nearly seven times.

Technical analysis indicates that Ethereum is approaching a diamond pattern resolution around $2,832.

Seasonal data shows that the historical return rate in August for years after the halving is 64.2%, which suggests that ETH could potentially accelerate to a target range of $4,000 to $6,000.

Diamond pattern resolution target breaks through 4,000 USD

The 3-day chart of Ethereum shows that a huge diamond pattern is approaching a resolution near $2,832, and this pattern has reached its peak, which typically results in a decisive breakout.

(Source: Trading View)

The diamond represents one of the strongest reversal patterns, characterized by volatility first expanding and then contracting.

ETH has consecutively reached highs around $4,000 and lows around $1,400, forming a classic diamond shape.

The ascending trend line has provided key support during multiple tests, and the recent breakout of this support level indicates that bullish momentum has re-emerged.

After a long period of development, when the diamond shape finally resolves towards the upper boundary, it typically leads to a larger proportional movement.

Analysts predict that the price will exceed $4,000, which is a cautious move taken after a successful price adjustment, targeting the previous cycle's resistance level, with important institutional positioning yet to be confirmed.

Ethereum Price Prediction: Seasonal Strength Points to a Target of $6,000 by August

The monthly return heatmap provides important seasonal context, supporting a bullish outlook for August.

(Source: Coinglass)

Historical data shows that August usually brings significant returns for Ethereum, with an average return rate of 64.2% in the years following the halving.

This model has consistently shown strong performance, with an increase of 35.62% in 2021, an increase of 25.32% in 2020, and an increase of 92.86% in 2017.

The performance in July currently shows a 50.79% increase for 2025, indicating that the traditional rebound momentum in August is strengthening.

If the historical pattern is correct from the current level of around $2,800, then the average return rate of 64.2% in August would push the Ethereum price to the target range of $6,000 in its strongest seasonal month.

In addition, the Chicago Mercantile Exchange (CME) futures open interest has reached a record $7.85 billion, further providing institutional validation.

This indicates that due to supply constraints caused by ETF inflows, seasoned traders are actively positioning themselves to continue rising during historically strong performance periods.