OnlyFans’ parent company, Fenix International Limited, has invested nearly $20 million into Ethereum (ETH) to diversify its portfolio. According to a recent financial filing, Fenix International purchased Ethereum worth $19.89 million between 2021 and 2022. However, due to the ETH price dropping in the second half of 2022, the value of the firm’s ETH holdings dropped, resulting in an impairment loss of $8.45 million.Currently, ETH price has formed a bullish technical pattern called the ‘Ascending Triangle.’ A horizontal trendline that connects swing highs and an ascending trendline connecting swing lows form this pattern. If the triangle pattern pans out, the ETH price could rally more than 141% to reach nearly $3,980.ETH price has been consolidating since the Aug 17 market crash. Long lower wicks on ETH price’s daily candles suggest that bulls continue to buy aggressively near the lower levels, keeping the token crabbing above $1,600. If the consolidation period resolves into a breakdown, the ETH price could drop to the support level near $1,590. Conversely, an uptrend would likely see the ETH price reach the 20-day EMA resistance near $1,720. The RSI for ETH remains just inside the neutral region, with a reading of 31.88 on the daily charts.

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Information	Details
Geography	Asia
Countries
Sentiment	neutral
Relevance Score	9
People	Fenix International, Colin Wu
Companies	Ethereum, CoinChapter.com, Ascending Triangle, UK Corporate Registry, Fenix International Limited
Currencies	ethereum, bitcoi
Securities