Ethereum Price Forecast: ETH edges higher as AI stocks recover

Ethereum trades at $2,080 today

• A recovery in AI-related shares helped Ethereum advance nearly 3%.
• A 44% fall in ETH drove BitMine’s $6.3 billion net loss for the financial year ended 31 August.
• After rebounding from near $2,000, ETH approaches resistance at $2,100.

A 2.7% rise in Ethereum (ETH) on Wednesday reflects the spillover into cryptocurrencies from gains in AI-related shares.

The day’s gains reached 1.7% for the NASDAQ, while the S&P 500 advanced 1.1%. Helping to drive the equity recovery was a 20% surge in neocloud provider CoreWeave (CRWV), whose Q3 earnings exceeded analysts’ forecasts. Nvidia, the chipmaker, also recovered following two consecutive days of declines.

A 4% advance in the Philadelphia Semiconductor Index (SOX) followed the move.

The recovery spread to cryptocurrencies, a market that has displayed a strong positive correlation with AI-related shares over the past year.

Tuesday’s stronger-than-expected inflation report sent the probability of a 25-basis-point increase at the Federal Reserve’s (Fed) December meeting above 90%, reviving expectations of a rate rise. Having fallen to $2,000 following the release, Ethereum has staged a modest recovery and is now nearing $2,100.

BitMine posts $6.3 billion net loss

A $6.3 billion net loss for the financial year ended 31 August 2026 was reported by Ethereum treasury firm BitMine Immersion Technologies (BMNR), according to a Form 10-K filing submitted to the Securities & Exchange Commission (SEC). Unrealised fair value losses of $6.23 billion on its digital asset holdings accounted for the loss.

At the end of August, the company’s 5,901,837 ETH holdings had a fair value of $14.6 billion. Over the financial year, ETH lost 44% of its value as its price fell from $4,390 to $2,466.

In the filing, BitMine wrote: "Because our digital assets are measured at fair value, with changes in fair value recognized in earnings, changes in ETH prices are expected to continue to cause significant volatility in our reported results, stockholders’ equity and financial condition,"

Ethereum technical outlook: $2,100 resistance stands in ETH’s path

Coinglass data show that Ethereum liquidations totalled $31.1 million over the past 24 hours, with short positions accounting for the largest share at $22.8 million.

Trading below the 20-day, 50-day and 100-day Exponential Moving Averages (EMAs), which are grouped between roughly $2,252 and $2,348, ETH retains a bearish near-term bias on the daily chart. Momentum also remains weak: the 14-day Relative Strength Index (RSI) is near 33, while the Stochastic Oscillator (Stoch) sits around 18 in oversold territory. Together with the inability to regain these dynamic resistance levels, those readings point to continued downward pressure, although short-term selling may be easing.

Any recovery first encounters resistance at $2,101. Beyond that lie a nearby horizontal ceiling at $2,204 and a tighter obstacle at $2,250, supported by the 20-day EMA at $2,251. The next barriers are the 100-day EMA at $2,327 and the 50-day EMA at $2,348, before a more substantial hurdle at $2,355. Higher resistance levels then stand at $2,548, $2,636 and $2,781.

Should prices weaken, the first support lies near $1,971. A more important floor follows around $1,828, where buyers would be expected to act with greater conviction if losses deepen.

(The technical analysis of this story was written with the help of an AI tool. Know more.)