Ethereum (ETH) Price Hovers Near $1,747 as BitMine Expands Holdings and TD Sequential Flashes Buy

Key Highlights

• BitMine purchased an additional 42,197 ETH during the past week, expanding total reserves to 5.74 million ETH (valued at approximately $10.27 billion)
• The company’s Ethereum position now represents about 4.75% of the circulating supply, nearing its strategic 5% accumulation target
• Ethereum currently trades near $1,747, experiencing a modest 1.10% decline over the last 24-hour period
• Technical analyst Ali Martinez highlights that maintaining price action above $1,750 is essential to preserve the active TD Sequential buy formation
• Critical resistance zone identified at $1,806–$1,807; failure to defend $1,750 could trigger downside movement toward lower support thresholds

At press time, Ethereum (ETH) is changing hands around $1,747, commanding a market capitalization near $211.25 billion alongside 24-hour volume reaching $12.46 billion. Despite the minor 1.10% pullback in recent trading, technical patterns indicate the asset’s recovery trajectory from previous lows remains structurally sound.

BitMine Immersion Technologies (BMNR) maintained its aggressive Ethereum accumulation strategy throughout the previous week, acquiring 42,197 ETH for its corporate treasury. This latest purchase elevates BitMine’s aggregate ETH position to 5.74 million tokens, representing approximately $10.27 billion in current market value.

Data from blockchain intelligence platform Arkham indicates BitMine’s holdings now constitute roughly 4.75% of Ethereum’s available circulating supply. To achieve its publicly stated objective of securing 5% total supply ownership, the firm requires an additional $523.7 million in ETH purchases—a target well within reach given its existing cash position.

Cryptocurrency market analyst Ted (@TedPillows on X) observed that ETH has successfully reclaimed the February 2026 low price point, which he characterizes as a pivotal technical threshold. According to his analysis, sustained price action above this zone could catalyze an additional 8–10% upward movement.

Beyond Ethereum, BitMine’s diversified digital asset portfolio includes 206 Bitcoin tokens, a $180 million equity position in Beast Industries, $71 million allocated to Worldcoin treasury holdings, and $527 million maintained in cash and liquid securities.

BitMine Chairman Thomas Lee addressed evolving regulatory dynamics, emphasizing that clear regulatory frameworks remain crucial for smart contract ecosystems such as Ethereum. Lee referenced improved legislative prospects for the Clarity Act as a positive development.

BitMine’s Ethereum Staking Operations

BitMine currently maintains 4.87 million staked ETH, positioning it as the world’s largest single staking entity. This operation generates annualized staking income of approximately $235 million.

Lee has publicly stated that revenue from staking activities sufficiently covers the company’s dividend commitments associated with its recently introduced preferred equity offering. This distinction gains relevance following Strategy’s decision to liquidate 3,588 BTC last week for dividend funding purposes, prompting speculation about whether Ethereum-focused treasury companies face comparable financial pressures.

Critical Price Zones for ETH

On July 6, market technician Ali Martinez identified an hourly timeframe TD Sequential buy configuration forming on Ethereum. According to Martinez’s interpretation, this bullish pattern maintains validity only while ETH sustains price levels above $1,750. Successful defense of this threshold establishes potential targeting toward $1,800–$1,826. Conversely, a breakdown beneath $1,750 would negate the technical setup.

Ethereum presently trades above the Bollinger Bands centerline positioned at $1,673.08. The MACD indicator at -15.01 crossing above its signal line at -45.38 suggests strengthening bullish momentum characteristics.

Analyzing the daily timeframe reveals ETH trading beneath both its 50-day EMA at $1,807 and 100-day EMA at $1,970. Overhead resistance concentrates around $1,806–$1,807, with subsequent barriers identified at $1,909, $2,018, and $2,107.

Downside support establishes at $1,741 and the 20-day EMA located at $1,714. Additional foundational support zones exist at $1,524, $1,404, and $1,155.

The Relative Strength Index registers at 58, indicating developing positive momentum, while the Stochastic oscillator approaching 90 warns of potential short-term overbought conditions near current resistance territory.

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