Ethereum Price Faces Resistance at $2,570 as BitMine Buys 53,501 ETH

Ethereum price recovered toward the $2,500 region after a sharp rebound from its August lows, bringing several important technical and on-chain levels back into focus.

ETH traded around $2,480 on Aug. 31 after reaching approximately $2,560 on Aug. 27. The cryptocurrency has struggled to establish sustained acceptance above $2,500, even as ETF inflows and corporate treasury demand remain strong.

The recovery also pushed Ethereum back above its realized price after 108 days below that cost basis. That development improves holder profitability, but ETH still needs to clear resistance between roughly $2,542 and $2,570 before the latest advance gains stronger technical confirmation.

Ethereum News: BitMine Adds 53,501 ETH

BitMine Immersion Technologies purchased 53,501 ETH last week, worth about $131.3 million based on Ethereum’s recent price levels. The purchase increased BitMine’s Ethereum holdings to 5,901,112 ETH, valued at nearly $14.5 billion.

The latest acquisition follows a previous purchase of 32,447 ETH. BitMine now holds about 4.9% of Ethereum’s total supply, moving closer to its target of controlling 5% of circulating ETH. The company needs around 134,000 more ETH to reach that level.

BitMine Chairman Tom Lee said Ethereum’s strong third-quarter performance could encourage more institutional participation in digital assets. The company has continued its Ethereum treasury strategy since June 2025 and has accumulated ETH for 65 consecutive weeks.

The company has also staked around 5.07 million ETH from its holdings. BitMine estimates its staking activities could generate about $335 million in annualized revenue at current yields.

Ethereum Price Tests $2,500 Resistance Zone

Ethereum price recovered from the $1,900 demand area before moving toward the $2,500 resistance region. The top altcoin currently trades around $2,439 after reaching above $2,500 during the recent rally.

Technical analyst Ted Pillows noted that Ethereum attempted to break above the $2,550 level but failed. He expects short-term price movement to remain limited, with possible consolidation before another move.

A weekly Ethereum price prediction shows $2,542 as the current resistance zone. A break above this area could open a path toward the next resistance near $2,800. The chart also marks support around $2,200 and a lower support zone near $1,965.

Ethereum’s 50-week simple moving average sits near $2,542, creating an additional technical barrier. ETH crypto acceptance above this level could determine whether buyers maintain control.

Ethereum Price Prediction: Analysts Track Breakout Level

Crypto analyst Crypto Patel identified $2,570 as a key confirmation level for Ethereum’s higher timeframe structure. The analyst noted that ETH crypto remains below a major change-of-character level, requiring a decisive close above the resistance area.

According to Ethereum price prediction, a strong move above $2,570 could support a continuation toward previous highs. The analyst also marked the $2,400-$2,500 range as a bearish order block zone.

A rejection from this area could increase selling pressure and expose Ethereum to lower support levels. Crypto Patel identified $1,736 and $1,503 as key downside levels, while a deeper decline could target the $1,000 range if the lower-high structure remains intact.

ETF Demand Supports Ethereum Recovery

Ethereum’s recent recovery also coincides with stronger institutional demand through spot ETF products. Weekly Ethereum ETF inflows reached about $824.42 million, following $697.18 million in the previous week.

The increase in ETF demand helped total Ethereum ETF assets rise from $10.52 billion on August 14 to $15.23 billion. The data show continued institutional exposure as ETH approached the $2,500 level.

Market data shows Ethereum reclaimed its realized price after trading below the level for 108 days. The realized price represents the average cost basis of Ethereum holders. Holding above this level could allow Ethereum buyers to defend higher price areas.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets can experience sharp price movements.