Cathie Wood Adds to Ethereum Exposure as ETH Price Slides

Ethereum price extended its pullback after failing to hold the $3,400 fair value gap on the daily chart. ETH fell more than 6% in 24 hours and traded near $2,900 during the session. CoinMarketCap showed ETH near $2,934, with $28 billion in 24-hour volume and a market cap $354 billion. The pullback followed heavy selling across major tokens.

ARK Steps Up Buying as Ethereum Price Drops Below $3,000

ARK Invest disclosed purchases that included 550,404 shares of BitMine Immersion Technologies. BitMine is a listed firm linked to an ETH treasury strategy. The firm also bought 43,553 shares of its own spot Bitcoin ETF on December 15. The additions came as traders focused on whether ETH could reclaim $3,000 after the latest rejection.

Market data showed the Ethereum price moving through a thin support area between $3,000 and the high $2,800s. Analysts marked $3,000 as the near-term line that could slow downside pressure. Without a quick reclaim, several analysts tracked the $2,800 region as the next area to watch.

Nearly $60 Million in Crypto Equity Purchases Led by Coinbase and BitMine

A separate disclosure showed ARK bought roughly $59 million of crypto equities. The purchases occurred during the latest decline in listed cryptocurrency tokens. The buying included about $16.3 million of Coinbase. ARK also added around $5.2 million of Bullish and roughly $10.8 million of Circle Internet Group. It added approximately $17 million from BitMine and around $9.9 million from CoreWeave.

The buying took place as the same stocks continued to fall in a multi-session drawdown. BitMine fell more than 11% on the day, while Circle dropped nearly 10% and CoreWeave slipped close to 8%. Coinbase slid over 6%, and Bullish extended losses as selling pressure stayed broad.

ARK’s filings also showed large existing positions across these names. The firm held roughly $609 million in Coinbase and about $323 million in Circle at the time of the disclosure. It also listed around $275 million in BitMine, about $194 million in Bullish, and about $140 million in CoreWeave.

ETH Technical Levels Keep Focus on $3,400 and the $2,600 Structure

Technical traders continued to point to the $3,400 zone as a key overhead level after the fair value gap rejection. Multiple charts showed repeated failures near prior supply bands, followed by lower highs into mid-December. The Ethereum price action kept the short-term structure tilted lower while ETH remained below that area.

On the downside, several chart frameworks labeled $2,600 as the main break-of-structure level. A daily close below $2,600 would shift focus to $2,550. If selling pressure increases, traders will focus on the $2,000 level. Meanwhile, $2,800 remains a key intermediate zone where buyers could step in after the sharp decline.

Some charts also mapped layered resistance between $3,140 and $3,260 after a recent rebound attempt. Above that zone, a broader sell area sat near $3,860 to $3,900 on the daily timeframe. Those ranges matched prior consolidation from October and early November.

Ethereum Price Predictions Center on Reclaiming $3,000

Near-term Ethereum price predictions in trading notes remained tied to two conditions. Bulls look for acceptance above $3,000. They then target $3,140 and $3,260, where charts mark reaction zones. A move above that band would bring the $3,678–$3,702 area into view, followed by $3,900.

Bear scenarios kept ETH price focused on failure at $3,000 and a drift back toward $2,800. If sellers break $2,600, some projections shift to $2,550. They then extend toward $2,420 based on prior swing references. Traders cited the 16% drawdown from the $3,400 rejection. They said ETH can reprice quickly during risk-off sessions.

Traders also monitored volatility around macro and risk events, which can amplify moves in high-beta assets. In that environment, many short-term plans narrowed to invalidation points at $3,000 and $3,400. Until ETH clears those levels, the market focus remains on support defense and liquidity pockets below.