Ethereum (ETH) Price: Rebounds 14% as BitMine Buys the Dip — What’s Next?

TLDR

• Ethereum is trading near $1,691, up about 1.4% in 24 hours, but remains in a broader downtrend
• BitMine bought 126,971 ETH last week, lifting its total holdings to 5.54 million tokens worth ~$9 billion
• MACD and Aroon indicators remain bearish, with sellers still in control
• Analyst Ali Charts says ETH below the 0.8 MVRV band is a historically strong accumulation zone
• A weekly close below $1,500 could open the door to $1,000

Ethereum has bounced back toward $1,691 after briefly touching lows near $1,505 last week. The token is up around 1.4% over 24 hours, trading in a range between $1,656 and $1,713.

The recovery has not yet broken the downtrend that has been in place since April. Ethereum still sits below key resistance levels that would need to fall for the trend to change.

The $1,700 to $1,715 area is the first short-term hurdle. A daily close above it could open a path toward $1,875, then the $1,900 to $2,000 zone. Ethereum would need to hold above those levels before any trend change can be confirmed.

Analyst Ash Crypto drew a comparison between the current chart and Ethereum’s June 2022 breakdown, when ETH fell to $880 before recovering. He noted that ETH has dropped about 68% from its August 2025 peak near $4,953.

Ali Charts Calls It an Accumulation Zone

Crypto analyst Ali Charts posted on X that Ethereum trading below the 0.8 MVRV pricing band is a “high-probability long-term accumulation zone,” adding “Buy the dip.” He also reported a TD Sequential buy signal two days ago, which can indicate seller exhaustion, though it does not confirm a reversal.

On-chain data backs up the stress. Only about 11% of Ethereum’s supply currently holds a threefold profit, the lowest reading since February 2017.

BitMine Adds Over 126,000 ETH

BitMine Immersion Technologies made its largest weekly Ethereum purchase of 2026, buying 126,971 tokens during the recent dip. That brings its total holdings to 5,543,872 ETH, or about 4.59% of Ethereum’s estimated supply.

The company values its ETH position at roughly $9.04 billion. Chairman Tom Lee said annualized staking revenue has reached a projected $230 million, with 4.7 million ETH currently staked.

ETF flows tell a different story. U.S. spot Ethereum ETFs saw $540 million in outflows in May and another $168 million in early June. However, June 8 saw $82.37 million in daily net inflows, lifting cumulative totals to $11.28 billion with total net assets at $9.36 billion.

The MACD line sits at -141.09, below the signal line of -118.04. The Aroon Oscillator reads -78.57, confirming sellers remain in control. Immediate support sits at $1,650, with $1,580 and $1,505 below that.

The post Ethereum (ETH) Price: Rebounds 14% as BitMine Buys the Dip — What’s Next? appeared first on CoinCentral.