Ethereum Price Holds Above $3K As Tom Lee’s Bitmine Buys Another $73.28M In ETH

The Ethereum price edged down a fraction of a percentage in the past 24 hours to trade at $3113 as of 01:18 a.m. EST on trading volume that dropped 53% to $90.9 billion.

This comes even as institutions and whales continue to bet big on Ethereum. According to Lookonchain data, Tom Lee’s BitMine Immersion Technologies has reportedly acquired 23,637 ETH valued at approximately $73.28 million just hours ago.

Additionally, a crypto whale has reportedly sold approximately $178 million worth of Bitcoin (BTC) to acquire around 58,419 Ethereum (ETH) in a single rotation valued at $178 million.

Ethereum Daily Chart Displays Death Cross Pattern

Currently, the ETH price is struggling to stabilize after its 2025 high correction. The daily chart confirms a bearish market structure, with the asset trading below key moving averages, suggesting stabilization is fragile without a confirmed reversal.

A critical technical development dominating the current sentiment is the confirmation of a Death Cross, where the 50-day Simple Moving Average (SMA) has crossed below the 200-day SMA. The 50-day SMA sits near $3,270, while the 200-day SMA is higher at approximately $3,561, forming a strong resistance zone. 

ETH will need to decisively reclaim this entire area to invalidate the bearish crossover, restore bullish confidence, and put the recent corrective phase firmly behind it.

Ethereum’s price action shows ETH previously peaked near its all-time high of $4,954, followed by a sustained pullback. Fibonacci retracement levels, measured from the recent high to the swing low near $2,125, show that Ethereum is currently trading below two key psychological levels at 0.5 ($3,539) and the 0.382 level ($3,816).

The inability of the price to hold above the 0.618 retracement at $3,205 earlier in the decline has reinforced selling pressure, turning that zone into immediate overhead resistance. 

On the downside, the $2,730–$2,800 region highlighted as a critical demand zone continues to act as a key support area that has so far prevented deeper losses and defined the lower boundary of the current consolidation range.

Moreover, momentum indicators are showing a mixed and cautious picture.

The Relative Strength Index (RSI) stands near 48, below the neutral 50 level, signaling market indecision and weak buying pressure. While it has recovered from oversold territory, no clear bullish trend has emerged yet.

Meanwhile, the MACD is attempting a bullish crossover, with histogram bars gradually improving from their lows. This is a positive sign that downside momentum is slowing dramatically. 

Ethereum Price Prediction

According to the ETH/USD chart analysis, Ethereum appears to be in a crucial range-bound recovery phase, defending the $3,000 level after a sharp correction.

If Ethereum manages to achieve a daily close above $3,300, it would serve as the first genuine signal of strength, potentially opening the door for a move toward the major SMA resistance at $3,560 and later challenging the $3,800 Fibonacci resistance.

Conversely, failure to hold above the psychological support of $3,000 could expose ETH to renewed selling pressure. 

The downside targets would then sit near the key demand zone at $2,730 and possibly a deeper correction toward $2,500 if bearish momentum accelerates.