{"id":4053,"date":"2026-03-19T15:15:55","date_gmt":"2026-03-19T15:15:55","guid":{"rendered":"https:\/\/tradertideinsights.com\/?p=4053"},"modified":"2026-03-19T15:15:55","modified_gmt":"2026-03-19T15:15:55","slug":"bitmine-stock-eyes-an-explosive-surge-as-ethereum-price-forms-a-bullish-pattern","status":"publish","type":"post","link":"https:\/\/tradertideinsights.com\/?p=4053","title":{"rendered":"BitMine stock eyes an explosive surge as Ethereum price forms a bullish pattern"},"content":{"rendered":"
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BitMine stock price remains in a deep slumber this month, continuing a trend that started in February. <\/p>\n

BMNR was trading at $21.4 on Wednesday, inside a range it has been stuck in since February 5 this year. <\/p>\n

It remains much lower than the all-time high of $161. This article explores why the stock may rebound soon.<\/p>\n

BitMine stock price chart analysis points to a rebound <\/h2>\n

The daily chart shows that the BMNR share price has remained in a tight range in the past two months. <\/p>\n

It is slightly above the important support level at $18.27, a level it has failed to move below since February.<\/p>\n

Most importantly, the stock has formed a falling wedge pattern, which is characterised by two descending and converging trendlines. <\/p>\n

This pattern often leads to a strong bullish breakout, which is normally confirmed when it moves above the upper side.<\/p>\n

BitMine has remained above the upper side of the wedge pattern and is now attempting to move above the 50-day Exponential Moving Average (EMA). <\/p>\n

The two lines of the Percentage Price Oscillator (PPO) have formed a bullish crossover pattern and are about to cross the zero line. <\/p>\n

Also, the Relative Strength Index (RSI) indicator has jumped above the oversold level of 24.50 in February to the current 50.<\/p>\n

There are also signs that the stock is now in the accumulation phase of the Wyckoff Theory. <\/p>\n

This phase is normally followed by the markup phase, which is characterised by more demand.<\/p>\n

Therefore, the stock will likely have a strong bullish breakout in the coming weeks, potentially to the important resistance level at $30.<\/p>\n

More gains may see it keep rising to the psychological level at $50, which is about 135% above the current level.<\/p>\n

<\/figure>\n

BMNR stock price chart | Source: TradingView <\/em><\/p>\n

Ethereum price recovery is possible <\/h2>\n

The main catalyst for the BMNR stock price is Ethereum, which is showing signs of recovery. <\/p>\n

This is important as the company has become a big Ethereum holder.<\/p>\n

It has added over 224k ETH coins in the last 30 days and now holds over 4.595 million coins worth over $10 billion. <\/p>\n

It recently bought coins directly from Ethereum Foundation in an over-the-counter (OTC) transaction.<\/p>\n

The company\u2019s holdings are now equivalent to 3.8% of the total supply, a big achievement since it started accumulation mid-last year. <\/p>\n

This accumulation will continue as the company aims to get to 5% ownership.<\/p>\n

There are signs that the Ethereum price will rebound<\/a> as it has formed an inverted head-and-shoulders pattern, a common bullish reversal sign in technical analysis. <\/p>\n

It is now in the right shoulder section, meaning that a rebound is possible.<\/p>\n

The Relative Strength Index (RSI) has moved from the oversold level of 30 to the current 37, while the two lines of the Percentage Price Oscillator (PPO) are narrowing.<\/p>\n

Therefore, the coin may rebound in the coming weeks, potentially to the key resistance level at $3,000, which is along the 50% Fibonacci Retracement level. This price is about 35% above the current level.<\/p>\n

On the flip side, a drop below the right shoulder section at $1,755 will invalidate the bullish outlook. <\/p>\n

An Ethereum rebound will be highly bullish for BitMine because of its large holdings.<\/p>\n

<\/figure>\n

ETH price chart | Source: TradingView <\/em><\/p>\n

BitMine may also benefit from the other parts of its business. It also holds over 100 BTC, meaning that it will benefit if Bitcoin rebounds. <\/p>\n

Also, the company has made a large investment in Beast Industries, which may be much bigger in the future.<\/p>\n

The post BitMine stock eyes an explosive surge as Ethereum price forms a bullish pattern<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

BitMine stock price remains in a deep slumber this month, continuing a trend that started in February. BMNR was trading at $21.4 on Wednesday, inside a range it has been stuck in since February 5 this year. It remains much lower than the all-time high of $161. This article explores why the stock may rebound…<\/p>\n","protected":false},"author":1,"featured_media":4054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/4053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4053"}],"version-history":[{"count":0,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/4053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/media\/4054"}],"wp:attachment":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}