BitMine Increases Ethereum Holdings, Targets $20k ETH with AI Expansion
BitMine's Ethereum Acquisition: BitMine Immersion Technologies Inc. has purchased over 102,000 Ethereum, increasing its total holdings to approximately 3.97 million ETH, valued at $12.2 billion, and aims to acquire 5% of the Ethereum network's total supply.
Future Plans and Market Confidence: Co-founder Tom Lee expressed confidence in the digital asset market, citing upcoming regulatory developments and plans to launch a proprietary Ethereum staking network in 2026, while predicting significant price growth for Ethereum and Bitcoin.
Market Activity and Strategic Investments: BitMine is experiencing strong market activity, trading an average of $1.9 billion daily, and holds a diversified asset base totaling nearly $13.3 billion, including strategic investments in Bitcoin and other cryptocurrencies.
Upcoming Shareholder Meeting: The company plans to host its annual shareholder meeting in Las Vegas on January 15, 2026, where it will outline its roadmap for further acquisitions and blockchain advancements.
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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 | 730.287 | 1239.043 | 1697.127 | 2205.883 | 2663.967 | 3172.723 | 3630.807 |
| Fibonacci | 1239.043 | 1608.376 | 1836.55 | 2205.883 | 2575.216 | 2803.39 | 3172.723 |
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