Ethereum (ETH) is holding its rising trend support as buyers defend key technical levels, keeping its broader bullish structure intact. Meanwhile, SharpLink Gaming has expanded its Ethereum staking position, adding to its holdings while generating additional rewards through participation in the network’s proof-of-stake mechanism.
As of now, according to CoinMarketCap data, Ethereum is trading at $2,681.27, down 0.19% over the past 24 hours and 0.51% over the past week.
Ethereum Defends Rising Trendline as $5,000 Target Remains in Focus
Crypto analyst GorkemCrypto noted that Ethereum has once again rebounded from a rising trendline connecting its major lows. Previous retests of this support have triggered buying activity, making the ascending trendline a key level in the cryptocurrency’s broader bullish structure.
The latest rebound has brought Ethereum toward $2,697.29, indicating an upward response after buyers defended the ascending support. The chart shows that market participants have repeatedly stepped in near this trendline, helping ETH maintain its broader upward trajectory.
GorkemCrypto identified the resistance zone near $5,018.18 as a potential upside target if Ethereum continues to hold its rising trendline. A sustained recovery from current levels could bring the $5,000 region back into focus, although the price would still need to overcome intervening resistance.
The ascending trendline remains a key technical level for Ethereum. Holding this support would preserve the current bullish structure, while a decisive breakdown could weaken the setup and put the analyst’s upside target at risk.
SharpLink Stakes $112.8M in ETH as Holdings Reach $2.4B
Lookonchain data shows that SharpLink Gaming staked another 42,074 ETH, worth approximately $112.8 million, on September 29, 2026. The transaction further expands the company’s Ethereum staking activity and increases its participation in the network’s proof-of-stake system.
Following the deposit, SharpLink’s total Ethereum holdings reached 892,127 ETH, valued at approximately $2.4 billion. This position reflects the company’s substantial exposure to Ethereum, while its staking activity allows it to earn rewards by participating in the network.
SharpLink has also accumulated 27,945 ETH in staking rewards, valued at approximately $75 million. These rewards add to the company’s ETH holdings through staking rather than direct market purchases, although their dollar value fluctuates with Ethereum’s market price.
By staking ETH, SharpLink can earn additional tokens while supporting Ethereum’s transaction validation process. Its latest deposit expands its staking position, but the overall value of its holdings remains subject to ETH price movements and variations in staking yields.
