The analysis suggests a bullish outlook for Ethereum (ETH) with a target price of $7,500 by year-end, representing a 68% increase from current levels. Standard Chartered's global head of digital assets research, Geoffrey Kendrick, believes ETH is undervalued. He notes that Ethereum digital asset treasury companies have acquired 2.6% of all ETH in circulation since June, while spot ETH exchange-traded funds (ETFs) have absorbed 4.9% of circulating ETH. Despite a 5% plunge on Tuesday, ETH recovered on Wednesday, rising 4.4% to $4,624.34, outperforming Bitcoin. Sharplink Gaming's announcement to repurchase shares if its mNAV falls below 1.0 creates a 'hard floor' for valuations. Resistance is expected near the $4,630 level. An upside break above $4,720 could send the price toward $4,840.