Ethereum remains under pressure after double-digit weekly losses

Key takeaways

Ethereum continues its downtrend after breaking key help ranges and testing a low of $1,505 final week.
The broader crypto market stays underneath strain following final week’s huge dump.

The cryptocurrency market begins the week on a weak footing, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) persevering with to commerce underneath heavy promoting strain following steep declines final week. 

Bitcoin misplaced greater than 14%, Ethereum dropped over 15%, and XRP shed greater than 13%, leaving technical indicators firmly tilted towards additional draw back dangers. 

BitMine boosts Ethereum holdings with largest ETH buy of 2026

Ethereum treasury firm BitMine Immersion Applied sciences considerably expanded its holdings final week, buying 126,971 ETH because the second-largest cryptocurrency declined towards the $1,500 worth area.

The acquisition marks BitMine’s largest weekly Ethereum buy of 2026, underscoring the agency’s continued dedication to accumulating the digital asset regardless of current market volatility.

Following the newest buy, BitMine’s whole Ethereum holdings have climbed to five.54 million ETH. The corporate said that it now controls roughly 4.59% of Ethereum’s circulating provide, shifting nearer to its long-standing goal of proudly owning 5% of all ETH in circulation.

In response to the agency, it stays on monitor to attain that milestone earlier than the tip of the 12 months, additional strengthening its place as one of many largest company holders of Ethereum.

Ethereum slides beneath essential help areas

Ethereum can be extending its bearish development, buying and selling round $1,684 after breaking a number of key help ranges beneath. The second-largest cryptocurrency stays firmly beneath its 50-day, 100-day, and 200-day EMAs, at the moment positioned close to $2,058, $2,189, and $2,441, respectively.

The focus of those shifting averages above present worth ranges means that any restoration makes an attempt may face sturdy promoting strain. In the meantime, Ethereum’s each day RSI sits at 50, indicating a impartial market situation, whereas the MACD stays deeply adverse, reinforcing the dominance of bearish momentum.

For bulls to regain management, Ethereum would want to beat a number of resistance ranges:

Fast resistance at $1,747.
Psychological resistance at $2,000.
50-day EMA close to $2,058.
100-day EMA round $2,189.
200-day EMA close to $2,441.

On the draw back, the subsequent important help degree is positioned round $1,385, a zone the place consumers may try to sluggish or reverse additional declines if promoting strain intensifies.