Ethereum is on a run. The second-largest crypto by market cap climbed 4.2% in the past 24 hours to $1,942.56, pushing above its 20-day and 50-day exponential moving averages. The Relative Strength Index sits near 70 — a zone that often signals strong momentum, though not yet overbought. The move came as spot Ethereum ETFs in the U.S. saw renewed inflows, led by BlackRock's ETHA fund, and as miner BitMine disclosed it had added another 7,430 ETH to its stash.
Why the chart matters
Analyst Javon Marks flagged that Ethereum has broken above a descending trendline that had been capping price action. His targets: $5,000, $8,500, and $12,000. A longer-term projection he mentioned goes as high as $6,941. The first major resistance zone sits between $1,950 and $2,150, with the psychological $2,000 mark looming. On the downside, support levels are at $1,900, $1,879, and $1,854.
ETF inflows pick up
Spot Ethereum ETFs in the U.S. are drawing fresh money. BlackRock's ETHA fund led the charge, though the exact inflow figures weren't disclosed in the data provided. The renewed interest comes after a period of mixed flows for the nine funds that launched in mid-2024. Whether this is the start of a sustained trend or a short-term blip remains an open question.
BitMine keeps stacking
BitMine, the publicly traded mining firm, added 7,430 ETH to its holdings. It now holds 5.777 million ETH — roughly 4.8% of the entire circulating supply. About 85% of that is staked, earning the company an estimated $247 million a year in yield. The firm also has a $4 billion share buyback program on the books, along with 207 Bitcoin, $180 million in Beast Industries, and $58 million in Eightco. The accumulation is a bet that Ethereum's price will eventually push past its August 2025 all-time high of $4,946.05.
For now, the market is watching whether ETH can hold above $1,950 and take a run at $2,000. That level has acted as both support and resistance multiple times this year. A clean break above it could open the path toward the next resistance at $2,501.
