ether On October 28, Arkham traded around $4,023 after repeatedly defending the $4,000 level as BitMine withdrew approximately $113 million of ETH from Bitgo and said it was “buying the dip.”
In a press release issued on October 27, Bitmine Immersion Technologies (BMNR) said that its crypto, cash and “moonshots” totaled $14.2 billion, including 3,313,069 ETH, $305 million in unencumbered cash, and smaller holdings such as 192 BTC and $88 million in Eightco stock.
The company called itself the largest Ether safe and emphasized trading liquidity. The average daily trading volume over the five-day period was approximately $1.5 billion, ranking the company roughly 46th in the U.S., the company said. It also listed a group of well-known backers and reiterated its goal of achieving “5% alchemy” of the Ether supply.
Chairman Thomas “Tom” Lee linked recent activity to the broader picture, saying easing tensions between the U.S. and China could support risk appetite. He said open interest in ether derivatives has reset to mid-year levels, and said the setup is attractive on a risk/reward basis.
BitMine announced that it has raised $305 million in cash and acquired 77,055 ETH over the past week, bringing its holdings to 3.31 million ETH, or about 2.8% of its supply.
Market overview
According to CoinDesk Research’s technical analysis data model, Ether rose modestly, but the decline towards the round number floor continued to attract buyers. Conditions improved towards the close as selling pressure eased and prices rose above support.
Support Defense vs. Resistance Test: What Traders Should Watch
With little new material, trading focused on whether the $4,000 floor holds and how quickly price can approach the nearby ceiling. Investment flows were mixed. ETH investment products experienced weekly outflows for the first time in five weeks, totaling $169 million, but the 2x Leveraged ETH ETP continues to see strong interest, with continued demand for increased exposure and signs of portfolio adjustment.
Main technical level signal integration of ETH
Support/Resistance
- Primary support: $4,000 (psychological zone).
- Secondary support: $3,965. Then $3,920. Check details around $3,780.
- Initial resistance: $4,050–$4,080; Main barrier: $4,200.
- Continuation Trigger: Above $4,250 will “start the Expansion Phase” towards $5,270-$5,940 on the Expansion Map.
Price and range (session numbers all in one place)
- Closing price/change: $4,022.71, +0.98%.
- High/Low and Total Range: $4,102.69 / $4,018.51; $211.28 range.
- Rebuilds per hour: $4,000.75 → $4,018.87 → $4,023.10.
volumetric analysis
- Activity spike: 549,762 engagements occurred during the outage investigation (approximately 149% of the 24-hour average).
- Session status: +35% compared to 7-day average, consistent with a repositioning of financial institutions rather than a retail panic.
- The volume profile supports the idea of a double bottom (buyers absorbing supply in the same area twice) around $4,000.
chart pattern
- $4,000 double bottom: Two drops to almost the same position, then a rebound. This is often interpreted as sellers getting bored and buyers reappearing.
- “Power of 3” rhythm: accumulation → shakeout → stabilization. If a nearby ceiling breaks, it may precede more obvious movement.
- Long-term channel (2017 onwards): Described as intact and supporting a constructive larger picture context.
Target and risk framework
- Upward steps: Starting at $4,200. $4,320-$4,500 if it gains momentum. $5,270 to $5,940 (road sign, not promise) only if $4,250 is recouped.
- Downside check: If $4,000 / $3,965 fails, look at $3,920 and then $3,780.
- Tactic: Treat $4,000 as a realistic line and favor long setups above $4,000 with stops below $3,965.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see . CoinDesk’s complete AI policy.
