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- Ethereum continues to decline after breaking through key support levels and testing the lows of $1,505 last week.
- The broader crypto market remains under pressure following last week’s massive losses.
The cryptocurrency market is starting the week on a weak note, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) continuing to trade on the back of heavy losses last week.
Bitcoin lost more than 14%, Ethereum fell more than 15%, and XRP lost more than 13%, leaving technical indicators tilted to other risks.
BitMine Expands Ethereum Holdings with Large ETH Purchase for 2026
Ethereum investment company BitMine Immersion Technologies increased its holdings significantly last week, buying 126,971 ETH as the second-largest cryptocurrency fell to the $1,500 price zone.
The purchase marks BitMine’s largest weekly Ethereum purchase of 2026, demonstrating the company’s commitment to aggregating digital assets despite recent market volatility.
After the latest purchase, BitMine’s total Ethereum holdings have risen to 5.54 million ETH. The company said it now controls about 4.59% of Ethereum in circulation, getting closer to its goal of having 5% of all ETH in circulation.
According to the company, it remains on track to achieve the goal before the end of the year, re-establishing its position as one of the main Ethereum authorities.
Ethereum drops below critical support levels
Ethereum is also extending its range, trading around $1,684 after breaking several key levels below. The second largest cryptocurrency remains below the 50-day, 100-day, and 200-day EMAs, which are currently near $2,058, $2,189, and $2,441, respectively.
The extent of these moving averages above today’s prices indicates that any attempt may be faced with a large selloff. Currently, the daily RSI of Ethereum is at 50, indicating a neutral market, while the MACD remains very negative, reinforcing the dominance of the bearish force.
For the bulls to regain control, Ethereum must overcome several levels of resistance:
- Immediate resistance at $1,747.
- Psychological resistance at $2,000.
- The 50-day EMA is near $2,058.
- The 100-day EMA is around $2,189.
- The 200-day EMA is near $2,441.
On the downside, the next support level is around $1,385, a level where buyers may attempt to limit or reverse further declines if the sell-off continues.
