Ethereum New Today: ETH Rebounds by 4% But Indicators Show Mixed Momentum

Key TakeawaysEthereum price holds above the $2,850 support level, facing pressure near $3,000Institutional accumulation grows, with BitMine now holding 3.63 million ETHTechnical indicators remain weak, with RSI at 36.6 and MACD at –236.1ETH Price Rebounds From Key SupportEthereum’s latest price update shows the asset trading around $2,910, stabilizing after last weekend’s dip below the $2,850 support. The rebound aligns with renewed institutional interest, most notably from BitMine Immersion Technologies, which acquired 69,822 ETH last week. This purchase brings its total treasury to 3.63 million ETH, roughly 3% of the circulating supply.Despite the recovery, buying pressure remains limited near the $3,000 psychological level, where recent candles show clear hesitation. The broader crypto market is also cooling, though Ethereum still outperformed the composite index with a 4.36% daily gain versus the market’s 2.33%. Bitmine’s Treasury MoveBitMine remains the #1 Ethereum treasury globally, far ahead of SharpLink Gaming (859,395 ETH) and The Ether Machine (496,712 ETH). Its allocation shift, combined with broader inflows into ETH-linked ETFs, highlights increasing institutional participation even amid market pullbacks.Source: CoinGecko Technical Indicators: Oscillators Show Weak MomentumOn-chain and chart-based metrics present a neutral-to-cautious outlook for near-term price action.Oscillators Show Modest Bearish MomentumSource: TradingViewRelative Strength Index remains below neutral, reflecting waning bullish momentumStochastic %K still in lower territory, hinting at softened demandMomentum (10) indicates downside pressure in recent sessionsThese data points confirm that although Ethereum has rebounded, the market has not shifted into high-confidence territory. Moving Averages Signal Continued HeadwindsAll major moving averages sit well above current price, signaling prevailing downside momentum:Source: TradingViewThe wide gap between spot price and these levels shows the lingering influence of extended selling pressure and highlights why Ethereum faces difficulty reclaiming the $3,000–$3,100 resistance cluster. ETH Outlook: Key Levels and Risk FactorsEthereum’s next significant resistance stands at $3,000, with stronger technical friction near $3,100, reinforced by the 20-day EMA (3,133.2). A move above this zone would indicate renewed upside momentum, though indicators currently do not show a high-confidence pivot.On the downside, if the $2,850 support fails, Ethereum could revisit deeper liquidity pockets toward the $2,300 region, mirroring analyst expectations for broader market softness.