{"id":13697,"date":"2025-10-18T14:15:11","date_gmt":"2025-10-18T14:15:11","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-chart-still-bullish-amid-bitmine-eth-purchases\/"},"modified":"2025-10-18T14:15:17","modified_gmt":"2025-10-18T14:15:17","slug":"ethereum-price-chart-still-bullish-amid-bitmine-eth-purchases","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-chart-still-bullish-amid-bitmine-eth-purchases\/","title":{"rendered":"Ethereum price chart still bullish amid BitMine ETH purchases"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum price has crashed into a bear market in the past few weeks, but technicals and treasury purchases point to a strong comeback in the near term.\u00a0<\/p>\n<div id=\"cn-block-summary-block_109c621de4753efea27dcc4cc9a72f1d\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price has pulled back and moved into a bear market this year.<\/li>\n<li>The coin has formed a bullish flag pattern on the daily chart.<\/li>\n<li>Companies like BitMine have continued to accumulate Ether tokens.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>At last check Saturday, Ethereum (ETH) traded at around $3,860, down by over 22% from the year-to-date high of $4,965, but up about 2.4% over the past 24 hours. <\/p>\n<p>Ethereum price has numerous fundamental and technical catalysts that will boost its performance. One key catalyst is that Tom Lee\u2019s BitMine is continuing its buying spree.<\/p>\n<p>The company bought more coins this week, bringing its total holdings to over $6.6 billion. Lee has maintained his bullish Ethereum forecast and hinted that\u00a0BitMine will continue accumulating in the coming months.\u00a0<\/p>\n<p>SharpLink holds over 797k coins, while The Ether Machine has over 345k coins. Most notably, Huobi\u2019s founder has committed to starting a $1 billion Ethereum treasury company.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Advocates argue that Ethereum is a better asset than Bitcoin because of its ability to generate income. Data compiled by StakingRewards shows that Ethereum has a staking yield of 3%.<\/p>\n<p>Meanwhile, Ethereum ETFs did better than those tracking Bitcoin (BTC). Data shows that these funds had outflows of just $232 million this week, compared to Bitcoin, whose funds shed over $1.2 billion.<\/p>\n<p>The futures market points to an Ethereum price rebound as the funding rate has remained above the neutral point. A positive funding rate is a sign that investors anticipate the price to keep going up.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Ethereum price technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">ETH price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily timeframe chart shows that the ETH price has pulled back in the past few weeks. It has tumbled from a high of $4,963 in August to $3,900 today.\u00a0<\/p>\n<p>This plunge has had it move below the 50-day and 100-day Exponential Moving Averages. It also moved slightly below the key support at $4,087, its highest point in December last year.<\/p>\n<p>On the positive side, the coin has formed a bullish flag pattern, which is made up of a vertical line and a descending channel.\u00a0<\/p>\n<p>Therefore, the Ethereum price may bounce back in the coming weeks. If this happens, it may rally and retest the year-to-date high of $4,963 followed by $5,000.<\/p>\n<p>This bullish outlook will remain as long as it is inside the flag\u2019s descending channel. A drop below the lower side of the channel will point to more downside, potentially to $3,000.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price has crashed into a bear market in the past few weeks, but technicals and treasury purchases point to a strong comeback in the near term.\u00a0 Summary Ethereum price&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13697"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13697\/revisions"}],"predecessor-version":[{"id":13698,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13697\/revisions\/13698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11617"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}