- The price of Ethereum remains around $1,900 as Bitmine purchases 9,926 ETH and becomes the holder of 4.8% of total supply.
- The price of Ethereum finds resistance around $1,920 whereas the support is located at $1,890 amid Bitmine’s expansion.
- Bitmine currently holds 5.82 million ETH while staking 5 million ETH as the company tries to reach 5% of supply.
The Ethereum price remained near the $1,900 level after recovering from a decline below $1,890, while Bitmine Immersion Technologies continued expanding its Ether holdings during a period of challenging market conditions.
ETH traded around $1,894 to $1,897, with technical indicators showing a mildly bullish structure but continued selling pressure near the $1,910-$1,923 range.
Ethereum Price Faces Resistance Near $1,920
The Ethereum price has remained above several key technical averages on the four-hour chart.
ETH is trading above the 20-, 50-, 100-, and 200-period exponential moving averages, maintaining the short-term bullish structure identified in the supplied market data.
The immediate resistance area can be found between $1,905 and $1,915, even though other technical analysis suggests that the level of resistance is at $1,906, $1,918 and $1,923.
The recent rejection of ETH from the $1,913 area shows that there are still sellers active near the top of the current range.
Any breakout above $1,918 will open up the $1,933 area, with the next potential area of resistance being at $1,950. Another technical analysis considers $1,920 as an important level, with any break above $1,923 improving the bullish setup.
The Relative Strength Index stands around 55. This places momentum above the neutral midpoint while remaining below the overbought area.
Ethereum Price Support Remains Below $1,890
In addition to the mentioned resistances, there are various support levels in place for the Ethereum price below the current trading range. They include $1,890, $1,878, and $1,873. In another technical analysis, $1,866 acts as the major support level, with $1,862 coming next.
ETH has already bounced from around $1,870, thus forming the above recovery structure. A move under $1,878 will weaken the above short-term bullish setup for the technical indicators.
A fall under $1,873 will add to the bearish pressure, while a decline under $1,862 will be a stronger breakdown of the above-mentioned support structure.
Source: Trading View
In addition, according to the Bollinger Bands’ analysis, the middle band is placed at $1,889. The fact that the ETH price is trading above this level shows that the asset is still above its recent mid-price point.
Bitmine Adds 9,926 ETH
Despite ETH hovering around $1,900, Bitmine Immersion Technologies has been continuously adding to its ether stash. This firm bought 9,926 ETH during the week ending Aug. 16, making the total number of ether holdings of this firm approximately 5.82 million ETH.
These holdings constitute 4.8% of the supply of Ethereum. Assuming the reference value of ETH as $1,893, the ether holdings of this firm were valued approximately at $11 billion.
The latest purchase brings Bitmine closer to its future “Alchemy of 5%” goal. According to the information provided, the company has been continuously purchasing Ethers every week ever since the launch of its ETH Treasury strategy in June 2025.
Bitmine made this latest purchase even as the price of Ether declined from when most of Bitmine’s holdings were purchased. According to the industry data provided, Bitmine has recorded unrealized losses on its ETH holdings of over $8.4 billion.
Staking Provides Ether Rewards
In addition, Bitmine is staking over 5 million ETH from their treasury funds. At the current prices, the staked ether is estimated to be worth about $9.6 billion.
Bitmine gets protocol rewards through staking, which is the process of participating in securing the Ethereum network. From the provided information, the seven days staking yield is estimated to be 2.61%.
Based on this, the annual staking rewards for Bitmine are projected to be about $287 million. The amount is based on the given seven days yield rather than the actual annual yield.
The staking process occurs while the company continues to buy Ether coins, resulting in Bitmine having a growing ETH treasury and a high amount of ETH staked.
Ethereum Price and Bitmine’s 5% Target
The recent updates have brought the price of Ethereum and Bitmine’s acquisition trend in the limelight of the provided market data. The price of Ethereum is trading below the $1,920 resistance zone, while Bitmine has boosted its position to 5.82 million ETH.
The breach above $1,918-$1,923 would bring the $1,933-$1,950 zone under the scanner based on the mentioned technical zones. On the other hand, moves below $1,878, $1,873, and $1,862 would reveal subsequent support zones.
According to the recent purchases made by Bitmine, the company now holds 4.8% of the total circulating supply of Ethereum.
Frequently Asked Questions
What is the current Ethereum price range?
Currently, Ethereum is trading within the range of $1,894-$1,897.
What is the resistance level of Ethereum?
Resistance can be identified at $1,905-$1,915, followed by $1,918 and $1,923.
How many ETH did Bitmine buy?
During the period of Aug. 16 week, Bitmine bought 9,926 ETH.
How much Ethereum does Bitmine own?
The firm currently owns 5.82 million ETH, which makes up for 4.8% of Ethereum’s circulating supply.
How many ETH does Bitmine mine?
The firm mines in excess of 5 million ETH, which is worth around $9.6 billion.
