Ethereum Price Forecast: BitMine boosts ETH holdings as Lee sees buying opportunity

Ethereum price today: $2,100

• BitMine purchased 71,672 ETH last week, boosting its stack to 5.278 million ETH.
• Chairman Thomas Lee noted that ETH's recent decline is an "attractive opportunity."
• ETH risks a daily close below the $2,108 support level.

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) expanded its digital asset stash again last week despite the crypto market decline.

The Las Vegas-based firm acquired 71,672 ETH, pushing its holdings of the top altcoin to 5.278 million ETH worth roughly $11.05 billion at the time of writing. With that figure, BitMine ranks as the largest corporate ETH treasury and second-largest crypto treasury behind Strategy.

"We view the recent pullback of ETH to below $2,200 as an attractive opportunity," said BitMine Chairman Thomas Lee in a Monday statement. He added that the company could reach its goal of acquiring 5% of ETH's circulating supply "sometime" in 2026.

Last week, BitMine said it would slow its ETH accumulation pace because it's ahead of its projected timeline to reach the 5% goal.

The company also reiterated that it has staked 4.71 million ETH from its stash via its Made in America Validator Network (MAVAN), which generates annualized staking revenue of $289 million.

Commenting on the CLARITY Act, which received greenlight from the Senate Banking Committee last week, Lee noted that there are several hurdles to overcome before the piece of legislation becomes law. "But we believe the probability of passage is higher than the 61% reflected on Polymarket," he added.

BitMine also reported holdings of 202 Bitcoin (BTC), a $200 million stake in Beast Industries, an $83 million stake in Eightco Holdings (ORBS) and total cash of $685 million.

Meanwhile, Ethereum investment products recorded net outflows of $249 million last week.

Ethereum Price Forecast: ETH risks closing below $2,108 resistance

Ethereum has seen $322.4 million in liquidations over the past 24 hours, spearheaded by $296.9 million in liquidated long positions.

On the daily chart, ETH keeps a bearish near-term tone as price holds beneath a dense band of Exponential Moving Average (EMA) resistance. The 20-day EMA around $2,256, the 50-day EMA at roughly $2,257 and the 100-day EMA close to $2,338, all sit overhead, suggesting rallies are likely to face selling pressure.

Momentum gauges reinforce this soft backdrop, with the 14-day Relative Strength Index (RSI) hovering in the low-30s and the Stochastic Oscillator (Stoch) deep in oversold territory, hinting that while downside pressure persists, the market is also stretched on the short side.

On the downside, ETH is testing the $2,108 support level ahead of deeper cushions at $1,909, $1,741, $1,524 and $1,405 if selling accelerates.

On the topside, immediate resistance is seen at $2,211, followed by the 20- and 50-day EMAs clustered around $2,256–$2,257 and the 100-day EMA near $2,338, which forms a broader supply zone. A sustained break back above this EMA stack would be needed to ease the prevailing bearish bias and open the way toward the higher resistance bands around $2,389 and $2,746.

(The technical analysis of this story was written with the help of an AI tool.)