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Ethereum
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Key Inisghts:
- BitMine purchased another 9,587 ETH, raising its total holdings to 6.07 million tokens, or 4.97% of Ethereum‘s supply.
- Ethereum price trades near $2,130, with analysts watching the $2,150 support zone for signs of a potential rebound.
- Ethereum price prediction shows a possible inverse head-and-shoulders pattern, with $3,800 emerging as an upside target.
Ethereum price prediction remained uncertain on Nov. 9 as ETH traded near $2,130. BitMine disclosed another 9,587 ETH purchase, bringing its treasury to 6.07 million tokens.
The company now holds approximately 4.97% of Ethereum’s reported circulating supply. Meanwhile, technical analysts monitored $2,150 and a possible inverse head-and-shoulders formation.
However, the proposed recovery pattern remains unconfirmed, leaving lower support levels relevant.
Ethereum Price Prediction: BitMine Nears Its 5% Supply Goal
BitMine Immersion Technologies held 6,070,092 ETH as of November 8. The company bought another 9,587 ETH last week, continuing its weekly purchases since June 30, 2025. Chairman Tom Lee said BitMine has added Ethereum every week since launching the treasury strategy. The latest figures place its holdings close to the company’s stated target of owning 5% of Ethereum’s supply.
BitMine valued its ETH holdings using a reference price of $2,234 per token on November 8. The company also reported 216 Bitcoin, $475 million in cash and marketable securities, and equity investments in Beast Industries and Eightco Holdings.
According to Ethereum news, the company’s combined crypto assets, cash, securities, and strategic investments totaled $14.3 billion.
Ethereum Price Hovers Around Support Zone
The ETH/USD daily chart showed Ethereum trading near $2,132.90. That placed the cryptocurrency slightly below the $2,150.40 level, marked as the 0.5 Fibonacci retracement. The nearby zone forms an important reference point for the Ethererum price prediction recovery scenario.
A sustained move above $2,150 would put the next marked retracement at $2,339.30 into view.
Beyond $3,800, the bullish Ethereum price prediction identifies $5,381 as the next major target. ETH crypto could then experience a pullback toward $4,400 before attempting another move higher.
The projected fifth wave targets $7,268.90, while the extended Fibonacci levels at $8,732.90 and $11,826.80 mark additional upside targets if bullish momentum continues.
However, these projections depend on ETH holding its support zone and breaking through several resistance levels. A decline below $1,976.80 would weaken the recovery setup and expose the next support near $1,753.50.
Inverse Head-and-Shoulders Chart Shows $3,800 Target
A separate two-day ETH/USDT chart maps a possible inverse head-and-shoulders formation. The Ethereum price prediction identifies an earlier left shoulder, a deeper low around mid-2026, and a possible right shoulder still taking shape.
A rising neckline connects the intervening price peaks. Ethereum price has not broken above that neckline on the chart, so the proposed pattern remains unconfirmed.
A breakout above the rising neckline would provide the confirmation that the formation currently lacks. ETH crypto daily chart places an additional horizontal reference near $3,872.70, close to the analyst’s $3,800 upside scenario.
That level sits above the recent trading range and would require Ethereum to clear intervening resistance first.
Meanwhile, BitMine reported staking 5,227,037 ETH, approximately 86% of its total holdings. Using a seven-day staking yield of 2.65%, the company estimated $309 million in annualized rewards at its current staking level. Full staking could raise that estimate to $359 million, according to BitMine.
This article provides financial information, not investment advice. Cryptocurrency prices fluctuate sharply, and technical forecasts carry substantial uncertainty. Readers should conduct independent research and consult qualified financial professionals before making investment decisions.
