BitMine Acquires 32,977 Ethereum, Total Holdings Reach 4,143,502
- Ethereum Acquisition: BitMine has acquired 32,977 Ethereum since December 29, increasing its total holdings to 4,143,502, valued at approximately $13 billion, demonstrating the company's strong investment intent in the crypto market.
- Asset Portfolio Expansion: As of January 4, BitMine's combined crypto and cash holdings reached $14.2 billion, including 192 Bitcoin and $915 million in cash, indicating a strategic focus on diversified investments.
- Market Influence: BitMine's Ethereum holdings represent about 3.43% of the current circulating supply, with plans to acquire 5% of the circulating supply in the future, further solidifying its leadership position in the crypto asset space.
- Stock Performance: BMNR stock climbed 14.9% on Friday and traded up 4.2% in early Monday trading, reflecting positive market sentiment towards the company's ongoing accumulation strategy and boosting investor confidence.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 733.851 | 1240.825 | 1700.691 | 2207.665 | 2667.531 | 3174.505 | 3634.371 |
| Fibonacci | 1240.825 | 1610.158 | 1838.332 | 2207.665 | 2576.998 | 2805.172 | 3174.505 |
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