Ethereum Price Outlook: BitMine has increased its holdings to 4.8 million ETH, and says strong performance may continue.

Ethereum Price Today: $2,140
Last week, BitMine acquired 71,252 ETH, raising its holdings to 4.8 million ETH.
CEO Thomas Lee pointed out that the recent outstanding performance of Ethereum could attract more investors.
Ethereum is once again trying to break its trading range after retesting the 50-day exponential moving average.
BitMine Immersion Technologies (BMNR), a company specializing in managing Ethereum wallets (ETH), increased its position in the leading altcoin after another round of weekly acquisitions.

The Las Vegas-based company bought 71,252 ETH last week, a slight increase from the previous week, marking its largest weekly purchase since December. As a result, BitMine now owns 4.803 million ETH, strengthening its position as the largest publicly traded Ethereum treasury.

Based on this figure, BitMine deposited an additional 191,994 ETH into storage contracts last week, bringing its total stored assets to 3.33 million ETH, or 69% of its total ETH holdings. The company stated it is currently earning an annual yield of $196 million from these assets via the US-made verification network (MAVAN) recently launched.

According to BitMine CEO Thomas Lee, Ethereum has been the second-best performing asset since the start of the US-Israeli war with Iran over the past six weeks, gaining 6.8% and outperforming the S&P 500 and gold by 1130 and 1840 basis points respectively.

Cryptocurrency performance and the US energy and tech sectors have outperformed. Source: BitMine
"This is a great indicator, as we expect Ethereum’s leadership to boost investor confidence and ultimately attract cash from the recession," Lee wrote in a Monday statement. "Ethereum continues to benefit from two main factors: first, Wall Street’s move toward tokenizing data on the blockchain, and second, the increasing need for AI systems to use public, neutral blockchains."

BitMine also holds a $200 million stake in Beast Industries, 198 BTC (BTC), a $92 million stake in Eightco Holdings (ORBS), and $864 million in cash.

Meanwhile, the company announced approval to list its shares on the New York Stock Exchange (NYSE). Trading on the NYSE American (NYSE American) will cease at market close on Wednesday, with trading on the NYSE (NYSE) beginning on Thursday.

BitMine’s stock price has risen 5% as of Monday.

Ethereum Price Outlook: Trying to Break Its Range and Retest the 50-Day EMA
Ethereum experienced $84.5 million in liquidations over the past 24 hours, driven by $74.8 million in short liquidations as of this report, according to Coinglass data.

On the daily chart, ETH is trading at $2,140. The short-term trend is neutral with a slight bullish bias, as the price remains above the 20-day exponential moving average (EMA) near $2,085, regaining momentum after last week’s pullback. The 50-day EMA, around $2,145, acts as immediate resistance, keeping the price confined between short- and medium-term trend indicators.

The RSI (RSI) remains at 53 above the midpoint, while the stochastic indicator (Stoch) approaches overbought territory, indicating a rebuilding of bullish momentum but no clear breakout signal yet.

Daily ETH/USDT Chart

Initial support is seen around a horizontal level near $2,108, supported by the 20-day EMA below. A break below this level would target the $1,911 level, followed by the key support at $1,741. Larger declines from this zone could open the way toward $1,520 and then $1,405 as broader downside levels.

On the upside, immediate resistance is at $2,389, with a daily close above this barrier needed to re-activate bullish momentum toward $2,746.