SharpLink: Adds 10,000 ETH Cutting Cost Basis to $3,586

SharpLink restarted ETH accumulation after an eight-month pause, taking delivery of 10,000 ETH worth $15.73 million from FalconX over the past two days and trimming its average cost basis from $3,609 to $3,586.

The treasury firm now controls 876,000 ETH valued at $1.37 billion, sitting on an unrealized loss of $1.789 billion or 56 percent. The purchases coincide with SharpLink joining ethlabs_org alongside Bitmine and Joseph Lubin on June 23.

Price action on the four-hour chart shows ETH at $1,573.8 inside the Bollinger Bands with upper resistance at $1,693.08 and lower support at $1,518.25. The EMA50 at $1,652.85 and EMA200 at $1,815.79 continue to act as overhead resistance while RSI at 40.25 remains neutral and MACD registers a bullish golden cross at negative 32.49, suggesting any bounce toward the upper band will likely stall and retrace toward the EMA50 before the next directional move develops.