- ETH reclaimed the 23.6% Fib level after an 18% drop, extending its rally to four weeks
- Bitmine bought 101,627 ETH in a week, lifting holdings to 4,976,485 ETH worth about $11.45B.
- Bitmine now holds 4.12% of the ETH supply and is about 247,000 ETH from its 5% target.
Ethereum entered a fourth straight bullish week, turning a previous technical setback into a measured rebound. The move followed a rejection near the 23.6% Fibonacci level around $2,228, which had triggered an 18% fall to about $1,937.
That decline, however, later became the launch point for the current advance, as weekly price action reclaimed the same Fibonacci zone. At press time, ETH traded near $2,320, up more than 2% in 24 hours, over 7% on the month, and about 48% year over year.
ETH Reclaims Key Fib Level as 4-Week Recovery Gains Strength
The weekly setup now shows Ethereum back above the 23.6% Fibonacci level that had earlier capped the token’s price. That recovery matters as the same area previously marked the point where the earlier slide began.
A rising s...
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