Ethereum Extends Four-Week Bullish Run with Reclaimed Fibonacci Level

Ethereum's price has been on an upward trajectory for four weeks, showing no signs of slowing down. The altcoin reclaimed the 23.6% Fibonacci level after a brief dip, marking a significant rebound in the market. This recovery is crucial as the same area previously marked the point where the earlier slide began.

The weekly price action shows Ethereum back above the 23.6% Fibonacci level, which had capped the token's price earlier. The rising support trendline also remains intact, providing a floor for the altcoin's price. As long as the price stays above this diagonal line, the current upward structure remains in place.

Bitmine, a major player in the Ethereum ecosystem, has been actively accumulating ETH. They purchased 101,627 ETH last week, lifting their total holdings to 4,976,485 ETH worth around $11.45 billion. This purchase marks Bitmine's strongest weekly buying rate since December 2025.