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The Ethereum value rose a fraction of a p.c prior to now 24 hours to commerce at $2,926 as of three:50 a.m. EST on a  30% drop in buying and selling quantity to $20 billion.

That surge within the ETH value comes as treasury agency BitMine, led by Fundstrat co-founder Tom Lee, expanded its holdings on Dec. 16 with one other buy of 48,049 ETH value $140.58 million.

In its newest disclosure launched on Monday, the NYSE–listed agency stated it holds a complete of three,967,210 ETH, purchased at a mean value of $3,074. At present market costs, BitMine’s ETH holdings are value about $11.6 billion, making it the world’s largest company holder of the most important altcoin.

以太坊最大的财库公司 Bitmine (BMNR) 在今天继续增持了 ETH：
4 小时前从 FalconX 收到 48,049 枚 ETH ($1.4 亿)。https://t.co/jjNeeSKIR0https://t.co/tuCmEEIS5P

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本文由 @Bitget 赞助｜Bitget VIP，费率更低，福利更狠 https://t.co/vOiXbZllWI pic.twitter.com/r0mY9rFXuY

— 余烬 (@EmberCN) December 17, 2025

The corporate has adopted an aggressive shopping for technique all year long, repeatedly saying it believes Ethereum is in a ”supercycle” and can play a rising position in world finance. As a part of its long-term technique, the agency goals to regulate 5% of Ethereum’s whole circulating provide.

Regardless of the continuing market downturn, BitMine not too long ago stepped up its purchases. The corporate purchased 240,711 ETH within the first two weeks of December alone, underlining its sturdy conviction in Ethereum’s long-term prospects.

Tom Lee says the “finest days for crypto” are nonetheless forward. He pointed to optimistic developments similar to progress on crypto regulation in Washington and rising curiosity from Wall Road establishments.

Ethereum Worth Slides As Bears Take Management

Ethereum is going through sustained bearish stress after failing to remain above key resistance ranges. The token is at the moment buying and selling round $2,935, which is nicely beneath each the 50-day easy shifting common (SMA) at $3,202 and the 200-day SMA at $3,568.

The 50-day SMA has crossed beneath the 200-day SMA, forming a “dying cross,” a robust technical sign that means continued draw back danger for the market. This setup exhibits that sellers stay in management, and the broader pattern continues to be destructive.

The worth motion additionally highlights a rounded prime sample. This construction fashioned after ETH peaked close to $4,950 earlier this 12 months and steadily misplaced momentum.

Rounded tops typically point out a shift from bullish to bearish management, and the next breakdown confirms that Ethereum has entered a corrective section. This sample provides weight to the bearish outlook on the every day timeframe.

ETHUSDT Chart Evaluation Supply: Tradingview

Presently, ETH is testing a key assist zone between $2,850 and $2,900. This zone has traditionally acted as a requirement space, making it essential for short-term course. If Ethereum closes beneath this assist, the following draw back targets could possibly be $2,500 and, within the occasion of elevated promoting stress, $2,200.

However, if consumers defend this degree, a short-term bounce stays attainable, although it will probably be corrective somewhat than the beginning of a brand new uptrend.

Ethereum Worth Targets Key $2,850 Assist Degree For A Reversal

The Relative Energy Index (RSI) is close to 41, which is beneath the impartial 50 degree, indicating bearish momentum, however it’s not but in oversold territory. This implies there may be room for additional draw back.

In the meantime, the MACD stays destructive, with the MACD line beneath the sign line. Whereas the histogram exhibits indicators of flattening, signaling that bearish momentum could also be slowing, there isn’t a clear bullish crossover but. This implies any near-term restoration could also be short-term.

Ethereum stays technically bearish on the every day chart. Bulls have to reclaim the $3,200 degree and push above the 50-day SMA to scale back draw back dangers.

Till this occurs, the $2,850 assist zone would be the key degree to look at, as a break beneath it might open the door to deeper losses. Quick-term bounces are attainable, however general the pattern favors sellers.

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