Ethereum nears breakout as BitMine builds $13.1B treasury, adds 101,745 ETH; Tom Lee calls 'Crypto Spring'

first published 2026-05-04T08:23:33Z

ETH rebounded to $2,393 and is trading near $2,370, testing the $2,400 resistance. Technicals show a daily bullish MACD crossover approaching and the Supertrend has been green since mid‑March. Price sits near the 61.8% Fibonacci retracement at $2,381, with a decisive break potentially targeting the 38.2% level near $2,772. On‑chain and institutional signals include ~ $101M net ETF inflows last Friday and exchange reserves down to ~14.5M ETH (the lowest since mid‑2016), indicating reduced selling pressure.

AI Analysis

Bullish technical setup: approaching daily MACD bullish crossover and Supertrend green since mid‑March; price at 61.8% Fib ($2,381) with a clear upside target at 38.2% Fib ($2,772). Supportive on‑chain/institutional facts: ~ $101M net ETF inflows last Friday and exchange reserves down to ~14.5M ETH (lowest since mid‑2016), suggesting reduced selling pressure. These are concrete, short‑term market signals that favor upside.

Source Articles