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Ethereum’s growing appeal among institutional players has taken another leap forward as Fundamental Global Inc. (FGF), a Nasdaq-listed company specializing in reinsurance, merchant banking, and asset management, revealed an ambitious $5 billion cryptocurrency strategy in a recent SEC filing. The plan marks a major pivot toward Ethereum investments, signaling increased confidence in the asset’s long-term potential.

The announcement immediately impacted market sentiment. While FGF shares closed the regular session on August 7 at $36.17, down 1.44% for the day, they surged 3.76% after-hours to $37.53 following the news. Investors reacted to the aggressive treasury allocation plan, which positions the company alongside other forward-looking firms adopting Ethereum as part of their corporate reserves.

FGF’s move mirrors the Ethereum Treasury strategy trend recently embraced by Sharplink Gaming, underscoring a growing corporate shift toward integrating ETH into long-term capital strategies. This wave of institutional adoption not only strengthens Ethereum’s position in the crypto market but also reinforces its narrative as a store of value and strategic asset in the evolving financial landscape.

FGF’s $5B Bet On Ethereum Marks Bold Institutional Shift

Fundamental Global has made a landmark move into the cryptocurrency sector, filing an S-3 form with the US Securities and Exchange Commission (SEC) to offer up to $5 billion in securities. According to the filing, the majority of proceeds will be directed toward acquiring Ethereum, while the remainder will cover corporate and operational needs. This represents a major strategic shift for a publicly traded company historically outside the crypto space.

In the filing, FGF outlined its new approach: “We recently initiated an Ethereum (ETH) treasury strategy. ETH is the native token of the Ethereum network. Ethereum is the foundation of digital finance and the settlement layer for the majority of stablecoins, Decentralized Finance (DeFi), and tokenized assets.”

FGF further emphasized its intention to accumulate ETH as a long-term treasury asset, with the goal of growing its overall position and increasing ETH per common share through professional treasury management. The strategy will leverage capital raising activities alongside advanced blockchain-based tools such as staking, restaking, liquid staking, and other DeFi protocols to maximize returns and asset growth.

By positioning ETH as its primary treasury reserve asset, FGF joins a growing list of companies—like Sharplink Gaming—that are embedding Ethereum into their corporate balance sheets. This approach not only diversifies reserves but also aligns the company with one of the fastest-growing sectors in digital finance.

FGF’s commitment reflects a broader institutional recognition of Ethereum’s role as a core blockchain infrastructure asset. As more firms adopt similar treasury strategies, the demand for ETH could see sustained upward pressure, reinforcing its position as a strategic, yield-generating, and value-accreting asset in the corporate treasury landscape.

Price Action Details: Key Levels To Watch

Ethereum (ETH) is showing renewed bullish momentum, as seen in the 4-hour chart, after reclaiming the critical $3,860 resistance level. The breakout came with strong buying volume, pushing prices toward the $3,900 zone. This move follows a sharp recovery from the $3,350 local low earlier in the week, with ETH now trading above its 50-day (blue), 100-day (green), and 200-day (red) moving averages — a structurally bullish setup.

However, the $3,900–$3,920 range is emerging as short-term resistance, where sellers have started taking profits. A decisive close above this level could open the door for a retest of the psychological $4,000 mark, last seen in mid-July. On the downside, immediate support lies at $3,860 — the previous resistance now flipped into a potential demand zone. If this level fails, ETH could revisit the $3,700 region, aligning with the 100-day MA for additional technical confluence.

Volume patterns indicate that buyers remain in control, but the market may need consolidation before another leg up. As long as ETH holds above $3,860, the broader trend favors continuation to the upside, especially with institutional interest — such as Fundamental Global’s $5B Ethereum treasury plan — reinforcing the bullish narrative. A break below $3,860 would weaken this outlook in the short term.

Featured image from Dall-E, chart from TradingView

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Shiba Inu is displaying early indications of resilience in the face of recent bearish pressure, which could stop it from falling further and adding a zero to its price. SHIB has landed close to the $0.00001200 level, a crucial support area that aligns with multiple short-term technical zones and historical horizontal support following a pullback from the $0.00001500 region.

The most noteworthy finding is that SHIB has started to bounce from the zone of $0.00001200, possibly forming a local bottom. Wicks reject further declines, indicating a stabilization pattern in the price action. Additionally, the RSI is rebounding from the oversold threshold, which is hovering around 39 and traditionally indicates that selling momentum has run its course.

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Technically, the 100 and 200 EMAs are in the vicinity of $0.00001330 and $0.00001430, respectively. These are significant resistance zones, but they could also be target areas if the bounce stabilizes. Breaking back above the 50 EMA ($0.00001315), which would indicate a return of bullish control, is currently necessary for a short-term recovery.

Since the volume is neutral, there isn’t a panic sell-off going on. Although there has been a recent decline in long-term large transaction volume, which indicates weak whale activity, the price structure itself is still intact within a larger consolidation pattern. All things considered, Shiba Inu is still far from its speculative peak, but it would be premature to add another zero to its price at this time.

Momentum to return to mid-July levels around $0.00001500 could be generated by a brief recovery from current levels. One step at a time, bulls must retake the EMAs in order for that to occur.

Bitcoin not giving up

The recent decline in Bitcoin from its local peak of $123,000 has brought it to an inflection point, which is the $112,000 mark. This zone is important not only because of previous price action but also because it intersects with the 50-day exponential moving average (EMA), which has historically been a dynamic support in bullish trends even though the price is currently bouncing off this level.

Following a clear breakout from the June consolidation zone of $105,000-$107,000, Bitcoin surged to a new local high of $123,000. With decreasing volume suggesting waning momentum, the subsequent correction was anticipated. But since the RSI is still above 44, it appears that Bitcoin is still holding steady in the neutral to bullish range and has not yet entered oversold territory.

Given its multifaceted significance, $112,000 is crucial. BTC had been consolidating below it for almost a month, and it is not only the 50 EMA level but also the neckline of the most recent breakout pattern. As a result, traders are naturally looking for a breakdown or a strong bounce at this point. The 50 EMA is holding the price steady thus far. If it broke below, it would probably allow for a reexamination of the 100 EMA at $107,800 or even the 200 EMA, which is slightly above $100,000. But the bullish structure is still in place as long as Bitcoin has $112,000 in it.

The line that divides a deeper correction from a short-term bullish continuation is in essence $112,000, it is more than just a number. Maintaining this level could strengthen a push toward the $120,000+ range. Losing it could cause Bitcoin to enter a longer cooldown period. Both traders and investors ought to keep a close eye on it.

Ethereum’s movement capacity

The recent decline in Ethereum may not be as dire as it appears. The 26-day exponential moving average (EMA) is a structurally sound level that ETH is currently sitting on after undergoing a healthy correction rather than a collapse after hitting above $3,800. In the past, this level has served as a turning point for continuation trends, and ETH’s capacity to maintain it points to a potential starting point for recovering $4,000.

With its current price of $3,430, ETH is beginning to show indications of slowing its downward momentum. The decline has been adequately cushioned by the green 26 EMA line, and the fact that the market has recovered from that precise area today supports the notion that this could be the local bottom for this correction. Now that the RSI has cooled off from overbought levels, it is in a balanced range around 53, which gives bulls more leeway to push the price higher without going overboard right away.

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Volume indicates that the selling pressure is not increasing. Buyers seem to have stepped in in response to the decline, which is encouraging. A multi-layered safety net in the $2,700-$3,000 range is created below ETH by a group of powerful support zones, which include the 50 EMA ($2,992), 100 EMA ($2,900) and 200 EMA ($2,704).

The $3,950-$4,000 range, which corresponds with earlier local highs from the current rally, is the next reasonable target if ETH can overcome the $3,600 resistance that signals the beginning of the most recent drawdown. The structure is still bullish since market sentiment is largely unchanged and ETH is still significantly above its mid-term trend supports. In summary, Ethereum is still on track to reach $4,000, and the first significant step in confirming that upward trajectory is to hold the 26 EMA.