Ethereum price nears $1,700, can BitMine buying stop a $1,500 retest?

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Ethereum recovered toward $1,700 after falling close to $1,500 during last week’s sell-off. Summary Ethereum trades near $1,691, but bearish MACD and Aroon readings keep sellers firmly in ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEthereum price nears $1,700, can BitMine buying stop a $1,500 retest?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-09 14:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/ethereum-price-nears-1700-can-bitmine-buying-stop-a-1500-retest/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ethereum recovered toward $1,700 after falling close to $1,500 during last week’s sell-off. \n\n\nSummary\n\n\n\nEthereum trades near $1,691, but bearish MACD and Aroon readings keep sellers firmly in ...</p>\n\n<a href=\"https://crypto.news/ethereum-price-nears-1700-can-bitmine-buying-stop-a-1500-retest/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETHI","symbol_name":"Defiance Leveraged Long Income Ethereum ETF","start_time":0,"source_url":"https://crypto.news/ethereum-price-nears-1700-can-bitmine-buying-stop-a-1500-retest/","article_id":"2642452080","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/ethereum-price-nears-1700-can-bitmine-buying-stop-a-1500-retest/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2642452080","pubTimestamp":1780987857,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Ethereum recovered toward $1,700 after falling close to $1,500 during last week’s sell-off.Ethereum trades near $1,691, but bearish MACD and Aroon readings keep sellers firmly in control.A weekly close below $1,500 could expose Ethereum to the next major support near $1,000.Ethereum traded near $1,691 at the time of writing, up about 1.4% over 24 hours . The token moved between roughly $1,656 and $1,713. Its next direction may depend on whether buyers reclaim $1,900 to $2,000 or sellers force another test of $1,500.The latest recovery started close to the recent low rather than after a clear break above resistance. This keeps the rebound corrective while Ethereum remains below the descending structure that has controlled price since April. The $1,700 to $1,715 area is the first short-term barrier.The $1,650 area offers immediate support. Below it, traders may focus on $1,580, $1,540, and the June low near $1,505. Volume stood near 100,260 ETH during the observed period, showing strong ","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHI":"Defiance Leveraged Long Income Ethereum ETF","EZET":"以太坊ETF-Franklin","09046":"华夏以太币-U","BITQ":"Bitwise Crypto Industry Innovators ETF","BITO":"比特币期货ETF-ProShares","SBIT":"2倍做空比特币期货ETF-Proshares","03009":"博时以太币","CETH":"以太坊ETF-21Shares","ARKY":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","ETCO":"Grayscale Ethereum Covered Call ETF","ETHT":"ProShares Ultra Ether ETF","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","BKCH":"AdvisorShares Sabretooth ETF","ETU":"T-Rex 2X Long Ether Daily Target ETF","QETH":"以太坊ETF-Invesco Galaxy","BITW":"Bitwise 10 Crypto Index ETF","ETHU":"2倍以太币期货ETF-Volatility Shares","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","BTCZ":"T-Rex 2X Inverse Bitcoin Daily Target ETF","ETHV":"以太坊ETF-VanEck","BETE":"等权重比特币&以太币期货ETF-ProShares","MAXI":"比特币期货ETF-Simplify","BETH":"比特币&以太币期货ETF-ProShares","09009":"博时以太币-U","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","ETHW":"以太坊ETF-Bitwise","STCE":"Schwab Crypto Thematic ETF","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETH":"低成本以太坊ETF-Grayscale","EETH":"以太币期货ETF-ProShares","YETH":"Roundhill Ether Covered Call Strategy ETF","NCIQ":"HASHDEX NASDAQ CRYPTO INDEX US ETF","ETHA":"以太坊ETF-iShares","FETH":"以太币ETF-Fidelity","BTF":"比特币&以太币期货ETF-CoinShares","AETH":"以太坊策略ETF-Bitwise","BTFX":"比特币期货ETF-CoinShares","03179":"嘉实以太币","CBTY":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - July","ETHD":"ProShares UltraShort Ether ETF","09179":"嘉实以太币-U","GDLC":"Grayscale CoinDesk Crypto 5 ETF","BRRR":"比特币ETF-CoinShares","SETH":"1倍做空以太币期货ETF-Proshares","ETHE":"最大以太坊ETF-Grayscale","QBF":"Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly","03046":"华夏以太币"},"translate_title":"以太币价格接近1700美元，比特矿购买能否阻止1500美元的重新测试？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09009":1.5,"ETQ":0.6,"ETHT":1.5,"QETH":1.5,"BETE":1.5,"BEGS":1.5,"BITO":0.6,"BITW":1.5,"LFGY":1.5,"FETH":1.5,"GDLC":1.5,"09046":1.5,"SETH":0.6,"EETH":1.5,"CETH":1.5,"03046":0.9,"ETHI":0.6,"NCIQ":0.9,"03009":0.9,"CRPT":1.5,"BTFX":0.6,"ETCO":0.6,"EZET":1.5,"QBF":0.6,"STCE":1.5,"BTF":1.5,"CBTY":0.6,"BKCH":1.5,"BETH":1.5,"09179":1.5,"BTCZ":0.6,"BRRR":0.6,"03179":0.9,"ETHV":1.5,"ETHU":1.5,"ETHA":1.5,"SBIT":0.6,"MAXI":0.6,"ETHW":1.5,"BITQ":1.5,"ETU":1.5,"METHmain":1.5,"AETH":1.5,"ETHD":1.5,"ETHE":1.5,"YETH":1.5,"ARKY":1.5,"ETH":1.5},"content_text":"Ethereum recovered toward $1,700 after falling close to $1,500 during last week’s sell-off. \n\n\nSummary\n\n\n\nEthereum trades near $1,691, but bearish MACD and Aroon readings keep sellers firmly in control.\nA weekly close below $1,500 could expose Ethereum to the next major support near $1,000.\nBitMine bought 126,971 ETH during weakness, lifting its total treasury holdings to 5.54 million tokens.\n\n\n\nThe move eased immediate pressure, but price remains within a broader downtrend and has not confirmed a lasting reversal.\nEthereum traded near $1,691 at the time of writing, up about 1.4% over 24 hours (per crypto.news data). The token moved between roughly $1,656 and $1,713. Its next direction may depend on whether buyers reclaim $1,900 to $2,000 or sellers force another test of $1,500.\nEthereum price rebound remains below major resistance\nThe latest recovery started close to the recent low rather than after a clear break above resistance. This keeps the rebound corrective while Ethereum remains below the descending structure that has controlled price since April. The $1,700 to $1,715 area is the first short-term barrier.\nA daily close above that zone could allow buyers to target $1,875 before the broader $1,900 to $2,000 resistance range. Ethereum would need to hold above those levels to show that market structure has started improving.\nThe $1,650 area offers immediate support. Below it, traders may focus on $1,580, $1,540, and the June low near $1,505. Volume stood near 100,260 ETH during the observed period, showing strong participation during the decline.\nMACD and Aroon keep the bearish structure intact\nEthereum’s MACD remains below its signal line. The MACD line stands near -141.09, while the signal line sits around -118.04. The histogram remains negative at about -23.05, showing that downside momentum has not fully faded.\nEthereum (ETH) price chart, source: crypto.news\nA bullish change would require the MACD line to turn higher and cross above the signal line. A shrinking negative histogram could provide an early sign that selling momentum is weakening. The current readings do not yet provide that confirmation.\nThe Aroon Oscillator stands at -78.57. This shows that Ethereum has recorded recent lows more often than recent highs. It supports the view that sellers still control the wider structure despite the bounce from $1,500.\nThe indicators do not set a precise bottom. Ethereum could still produce a relief rally from oversold conditions, but buyers need higher lows and a break above resistance to change the trend reading.\nThe $1,500 level separates recovery from deeper losses\nAsh Crypto compared the current chart with Ethereum’s June 2022 breakdown. Ethereum fell to $880 during that period before beginning a long recovery. The analyst noted that ETH has now dropped about 68% from its August 2025 peak near $4,953.\n\n“If ETH holds $1,500, this could play out exactly like June 2022,” Ash Crypto said. \n\nThe analyst also warned that a weekly close below $1,500 could leave the market without clear support until the $1,000 region.\n\n$ETH has only done this once before in its entire history.Back in June 2022, ETH broke through every support level and crashed to $880. Everyone gave up on it. That turned out to be the exact bottom of the whole bear market.Now it's June 2026, the same month, same breakdown,… pic.twitter.com/v8IulXZuPl— Ash Crypto (@AshCrypto) June 8, 2026\n\nThe comparison describes a possible path rather than a confirmed repeat. Market liquidity, interest rates, institutional flows, and Ethereum’s supply structure differ from 2022. The weekly 200 moving average near $2,471 may also act as resistance during a wider recovery.\nAli Martinez offered a more positive long-term reading. He said Ethereum trading below the 0.8 market-value-to-realized-value pricing band has historically marked an accumulation area. Just 2 days ago, he also reported a TD Sequential buy signal, which can point to seller exhaustion but does not guarantee a reversal.\nBitMine accumulation meets weak ETF demand\nBitMine Immersion Technologies bought 126,971 ETH during the latest weekly decline, its largest weekly purchase of 2026. The acquisition raised its holdings to 5,543,872 ETH, equal to about 4.59% of Ethereum’s estimated supply.\nThe company valued its ETH position near $9.04 billion using a reference price of $1,630. It also reported that 4,718,677 ETH remained staked. Chairman Tom Lee said annualized staking revenue had reached a projected $230 million.\nBitMine’s purchase provides corporate demand, but exchange-traded fund flows remain weak. As previously reported by crypto.news, U.S. spot Ethereum ETFs recorded about $540 million in outflows during May and another $168 million during early June.\nHowever, according to SoSoValue data, the funds recorded $82.37 million in daily net inflows on June 8, lifting cumulative inflows to $11.28 billion and total net assets to $9.36 billion.\nEthereum (ETH) spot ETF data, source: SoSoValue\nOn-chain profitability also remains strained. As previously reported, only about 11% of Ethereum’s supply held a threefold profit, the lowest share since February 2017. That reading may signal capitulation, but it also shows holders have less profit protection if prices fall again.\nEthereum now needs to hold $1,650 and clear $1,715 to extend the rebound. A stronger recovery would require a move through $1,900 and $2,000. Failure to defend $1,500 on a weekly close would bring the $1,000 to $1,100 region back into view.\n\n\n  \n\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        \n\n\n\n\n\n\n                Read more:\n            \n\n                CLARITY Act backers press Senate as odds of passage decline","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2642452080","isCrawlerRequest":true}