LINE price keeps dumping despite major institutional catalysts from its maker ConsenSys and SharpLink. Is bottom in yet?
Summary
- LINEA price continues to slide below key moving averages, with the 9-day EMA rejecting every rebound attempt.
- Renewed optimism from ConsenSys’ IPO plans and SharpLink’s $200M restaking deployment is fueling hopes that LINEA may be bottoming, though technicals yet to confirm it.
Linea (LINEA), ConsenSys’ zkEVM Layer-2 network, has been in the spotlight this week following major institutional developments.
Earlier this week, SharpLink announced it would allocate $200 million worth of Ethereum (ETH) from its corporate treasury to Linea via ether.fi and EigenCloud, supporting staking and restaking programs tied to emerging services like verifiable AI.
The announcement came just as ConsenSys — the developer of Linea and the company behind MetaMask and Infura — confirmed that JPMorgan and Goldman Sachs will lead its upcoming IPO.
LINEA price technical analysis
Despite these strong fundamental developments, LINEA price chart still looks very depressed. Technical structure on the daily chart shows the token is trading below all key moving averages, with the 9-day EMA acting as immediate resistance, rejecting every attempt to reclaim it since late September.
The recent sessions show signs of flattening, while the Stochastic RSI has just flashed a bullish crossover in the oversold zone, which often precedes short-term stabilization or a relief rally. However, it’s worth noting that the previous two crossovers in this trend have failed to translate into reclaim of the EMA 9.
That being said, with renewed optimism following SharpLink’s $200 million restaking deployment and ConsenSys’ IPO news, there’s growing hope that LINEA may be forming a local bottom. Price action is likely to consolidate around current levels before any breakout attempt.
For bullish momentum to take hold, LINEA price must make a higher low followed by a higher high, with a confirmed close above the EMA 9. A reclamation of the 0.382 Fib level would serve as the clearest signal that buyers are regaining control.