Ethereum Price Hovers Around Key Resistance as BitMine Continues Accumulation

Ethereum's price has been steady around $1,747 in recent hours, with a slight decline of about 1.10% over the past day.

BitMine Immersion Technologies continued its accumulation of Ethereum last week, purchasing 42,197 ETH and bringing its total holdings to 5.74 million ETH, valued at approximately $10.27 billion.

The company now controls roughly 4.75% of Ethereum's circulating supply and is close to its goal of owning 5%, with only about $523.7 million more in ETH needed to reach that target.

Crypto analyst Ali Martinez notes that the TD Sequential buy signal for Ethereum remains active, but it requires the price to hold above $1,750 to remain valid.