Sharks produced a superb effort on Friday night at Worcester Wolves to beat one of their title rivals.
However, a last gasp victory by league leaders Newcastle Eagles at Manchester Giants ensures Sheffield remain six points behind the Geordies but with three games in hand.
Sharks needed to beat Worcester to stay in the title race and they did so with an excellent final quarter.
Leading 62-61 the Sharks constantly built their advantage until it peaked at 82-68 with 90 seconds to play.
The chief architect of the run was forward Olu Babalola who had a team-leading 20 points in the match.
Sharks now have the season head-to-head over Worcester and face a potentially title deciding match in the north-east next Friday where the must beat the Eagles.
Sharks had begun well with a three-point play by guard BJ Holmes but Wolves then went on a 14-0 tear to take control.
However, Sheffield responded with an 8-0 run of their own, capped by a Zach Gachette three, before levelling the game at 17-17 thanks to another Gachette triple.
After Will Creekmore had tied the game at 19-19 the Sharks had the better of the second quarter.
A 6-0 run gave them some breathing space and despite Wolves keeping the match close a 5-0 finish to the half - with Patrick Horstmann’s dunk being the final score - made it 42-34.
Wolves ended the third quarter on a 12-3 burst to make it 62-61 but Sheffield wouldn’t be denied.