Ethereum Price Forecast: BitMine adds 101K ETH as Tom Lee says crypto spring has commenced
Ethereum price today: $2,350
- Ethereum treasury BitMine Immersion purchased 101,745 ETH last week, lifting its holdings to 5.18 million ETH.
- Thomas Lee noted that crypto spring has commenced despite sustained bearish sentiment.
- ETH is retesting the $2,388 key resistance, just above the 100-day EMA.
Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) stepped up its accumulation of the top altcoin last week, acquiring 101,745 ETH.
The purchase has lifted the company's holdings to 5.18 million ETH, establishing its position as the largest corporate ETH treasury.
The Las Vegas-based firm also staked an additional 661,168 ETH over the past week, bringing its total staked holdings to 4.36 million ETH and annualized staking revenue to $297 million.
"Crypto Spring, in our view, has commenced and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen. We believe the potential passage, or even failure, of the CLARITY Act confirms the arrival of crypto spring," said BitMine Chairman Thomas Lee in a Monday statement. "As for the upcoming drivers of crypto gains, Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains."
BitMine also reported holdings of 200 Bitcoin (BTC), a $200 million stake in Beast Industries, an $83 million stake in Eightco Holdings and total cash of $700 million.
Over 10% of BitMine's latest purchase stemmed from another over-the-counter (OTC) transaction with the Ethereum Foundation (EF). The company has now purchased a total of 25,000 ETH from the non-profit in 2026.
Meanwhile, US spot ETH exchange-traded funds (ETFs) broke their three-week inflow streak after recording net outflows of $82 million last week, per SoSoValue data.
Ethereum Price Forecast: ETH retests $2,388 resistance
Ethereum has seen $137.8 million in liquidations over the past 24 hours, led by $93.4 million in short liquidations, according to Coinglass data.
On the daily chart, ETH is maintaining a constructive bullish bias as it trades above the 20-, 50-, and 100-day Exponential Moving Averages (EMAs), which are clustered between roughly $2,300 and $2,361.
The rising Relative Strength Index near 58 and a Stochastic reading around 75 hint that upside momentum remains firm, though edging toward overbought territory. The move suggests scope for continuation while leaving the pair vulnerable to short-term pauses or shallow pullbacks.
On the topside, initial resistance appears at the horizontal barrier around $2,388, just above the 100-day EMA. A daily close above this level would open the way toward the next resistance at $2,746 and then $3,411.
On the downside, the 20-day EMA provides immediate support at $2,300 and the 50-day EMA at $2,256, which reinforces the underlying bullish structure, ahead of stronger horizontal demand around $2,211 and $2,107 if a deeper correction develops.
(The technical analysis of this story was written with the help of an AI tool.)
