Key Takeaways
- Ethereum rallied 7% in March, breaking a six-consecutive-month decline
- Accumulation wallets absorbed 2.7 million ETH during March, marking the highest monthly uptick in over 12 months
- BitMine commands the largest institutional ETH holdings at 4.73 million ETH
- BitMine Chairman Thomas Lee stated the market correction is 90-95% complete
- ETH confronts resistance around $2,150, with critical support established at $2,050
Ethereum closed March with a 7% uptick, breaking free from a persistent downtrend that began in September 2024. This negative momentum had persisted for half a year without interruption.
Despite widespread losses across major equity benchmarks and commodity markets in March, ETH bucked the trend by maintaining positive territory. The wider financial ecosystem faced consistent selling pressure during this period.
CryptoQuant’s blockchain analytics reveal that accumulation-focused addresses acquired approximately 2.7 million ETH throughout March. This represents the most substantial monthly inflow in more than twelve months. These particular wallets are characterized by their zero-sale transaction history.
A significant portion of this accumulation originated from BitMine Immersion Technologies (BMNR). The company has been methodically acquiring ETH amid recent price declines. BitMine currently maintains the most substantial publicly-known corporate Ethereum position, amounting to 4.73 million ETH. From this total, 3.14 million ETH has been allocated to staking infrastructure.
During a Monday appearance on CNBC’s Closing Bell, BitMine Chairman Thomas Lee expressed confidence in current market valuations, indicating he would actively purchase at present levels and asserting the correction is 90-95% finished. Lee had earlier forecast that ETH would deliver positive performance and establish a bottom during March.
Some market observers have noted that Lee has maintained consistently optimistic projections throughout recent months, suggesting that one accurate prediction may not establish a reliable forecasting track record.
Current Price Dynamics and Critical Thresholds
ETH is presently exchanging hands near $2,130. The asset is positioned above its 20-day EMA located around $2,085, which currently functions as short-term floor support. The 50-day EMA hovering near $2,160 represents the next significant ceiling to overcome.
When Ethereum breaks out of it’s almost 10 year old downward trend line vs #Bitcoin, it’s going to get INSANE!!! 🤪 🤑
I personally think @fundstrat‘s @BMNR $BMNR is the best way to play this move.
They have some solid diversification strategy and I love the guaranteed… pic.twitter.com/WWu7qkSuLm
— Micro2Macr0 (@Micro2Macr0) April 1, 2026
The RSI indicator registers at 54, displaying mildly bullish characteristics without entering overbought conditions. The Stochastic Oscillator has recently rebounded from oversold levels, indicating strengthening price momentum.
Throughout the previous 24-hour period, ETH experienced $57.4 million in total liquidations. Bearish positions comprised the dominant share at $41.16 million.
Critical Resistance and Support Parameters
Regarding upward movement, a confirmed daily settlement above $2,388 would potentially trigger advancement toward $2,746, with subsequent target at $3,412. Conversely, a breakdown beneath $2,108 would likely reveal $1,911 as the next support level, followed by $1,741.
Lower timeframe analysis shows Ethereum encountering difficulty penetrating $2,150. A recent breakdown occurred below a near-term consolidation triangle with foundational support at $2,135. Should ETH maintain positioning above $2,050, another challenge of $2,150 remains probable. Rejection at that level could drive prices back toward $2,000 or potentially $1,965.
ETH currently trades above both $2,050 and its 100-hourly Simple Moving Average.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
