Bitmine Just Crossed $10 Billion In Staked Ethereum – 88% of Everything It Owns Is Now Locked In
Ethereum has been relatively quiet as Bitcoin pushes above $80,000 and captures most of the market’s attention. ETH is holding its range, waiting for a catalyst that forces a directional decision. A few hours ago, data from Arkham Intelligence provided one piece of evidence that the structure beneath that quiet may be more significant than the price chart is currently showing. This area is now critical. It previously acted as resistance during March and early April and is now being tested as support. The fact that ETH is holding above it suggests buyers are defending the level, but the follow-through lacks strength.Related Reading
Overhead, the $2,400–$2,500 region remains the immediate barrier. This zone aligns with the descending 100-day moving average, which continues to act as dynamic resistance. Until ETH can break and hold above that level, the broader trend remains structurally capped.
Volume trends add caution. Participation has declined compared to the selloff phase, suggesting reduced selling pressure is driving the move higher more than aggressive accumulation.
If ETH holds above $2,250, the recovery structure remains intact and opens the door for a test of $2,500. A failure to hold would likely rotate price back toward the $2,000–$2,100 demand zone.
Featured image from ChatGPT, chart from TradingView.com
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