BitMine buys 28,650 ETHEREUM at $ 130 million – Details star-news.press/wp

ETHEREUM is traded at critical levels after days of fluctuations, approaching its highest level ever near 4800 dollars. The bulls remain in control, and the market is increasingly focused on whether ETH can penetrate the resistance and confirm a new phase of the upward trend. In addition to momentum, BitMine MEMERSION Technologies, Inc. A Blockchain technology company mainly based in the United States, it has just bought $ 129.9 million of ETH after a short day of lack of activity.

This strategic acquisition highlights the increasing trend of institutional players who are allocated directly to Ethereum, which enhances confidence in its long -term value. The point of the similar cabinet strategies adopted by companies such as Sharplink Gaming, indicating a broader transformation of companies towards ETH accumulation. The timing is noticeable, while continuing to reduce the exchange balances and the demand intensify, putting pressure on the supply side in the market.

For investors, the convergence of institutional purchase and strong technical sites indicate that Ethereum may prepare for decisive penetration. However, as fluctuations continue, market participants closely monitor whether ETH can maintain momentum above the main levels and enhance its leadership role in the broader Altcoin gathering.

Ethereum accumulation grows with the expansion of a drop image

With this last acquisition, BitMine’s total wives now is 1.174 million ETH, at a value of about $ 5.26 billion. This continuous trend of accumulation comes at an embarrassing turn for Ethereum, as assets test the main resistance levels near the highest levels ever.

The timing of BitMine highlights a growing condemnation among institutional players that ETHEREUM will continue to excel in the current session. The stock market reserves and the OTC office are steadily shrinking, indicating a strong demand while the available liquidity dries. This dynamic supply is often a fuel for sharp upward price movements, especially when it is associated with large institutional flows such as that point beam.

Meanwhile, Bitcoin remains under pressure a little less than its highest level ever, struggling to confirm the collapse. This contrast constitutes a new stage in the encryption market, as the ETHEREUM power has become increasingly clear. If the ETH is successfully pushed through resistance, this may lead to the following leg of the altcoin gathering, with liquidity flowing towards stronger assets in the sector.

The price carries major support after a strong gathering

Ethereum PRICE’s work appears flexibility despite the recent decline in high levels near $ 4,800. On the graph for 4 hours, ETH is currently trading about 4,422 dollars, and is held higher than the moving average for 50 points at 4,347 dollars. This level works as a short -term dynamic support, indicating that buyers remain active even after profit at the top.

During the past weeks, the assembly has been distinguished by the highest levels and the highest levels, confirming a strong rising structure. Highlighting the size of the size during the upscale movements, while the last correction witnessed the relatively low sales volume, which is an encouraging sign of bulls. The average transportation of 100 and 200 points is still at $ 3,988 and 3,780 dollars, respectively, much lower than the current price, which enhances the broader upward trend.

If ETH maintains the support of more than $ 4,350, it is possible that the bounce is about $ 4,600-4,800 dollars, with a possible attempt at its highest levels ever. However, the collapse without the moving average can lead 50 periods to a deeper correction, at $ 4000 as the next main support zone. With the upward basics, decreased supply, and increasing institutional interests, the market appears to be prepared for a decisive step.

Distinctive image from Dall-E, the tradingView graph

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