Ethereum Price Forecast: ETH Edges Higher After AI Stocks Recover

Ethereum price today: Can ETH build on $2,080?

• Improved sentiment following a recovery in AI-related equities lifted Ethereum by nearly 3%.
• A 44% fall in ETH drove BitMine's $6.3 billion net loss for the fiscal year ended 31 August.
• After recovering from near $2,000, ETH is testing resistance at $2,100.

Positive sentiment from the rally in AI-related equities has spread to cryptocurrencies, lifting Ethereum (ETH) by 2.7% on Wednesday.

Gains of 1.7% in the NASDAQ were accompanied by a rise in the S&P 500 of 1.1% on the day. Helping drive the equity recovery was neocloud provider CoreWeave (CRWV), which surged 20% after reporting Q3 earnings above analysts' estimates. Nvidia, the chipmaker, also recovered following two consecutive days of declines.

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

The equity rally also supported cryptocurrencies, which have displayed a strong positive correlation with AI-related shares over the past year.

With Ethereum nearing $2,100, the token has recovered modestly from its slide to $2,000. That decline followed Tuesday's stronger-than-expected inflation report, which revived expectations of an interest rate increase. After the release, the probability of a 25-basis-point hike at the Federal Reserve's (Fed) December meeting surged above 90%.

What drove BitMine's $6.3 billion loss?

Separately, a $6.3 billion net loss for the fiscal year ended 31 August 2026 was disclosed by Ethereum treasury firm BitMine Immersion Technologies (BMNR) in 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, BitMine's holdings totalled 5,901,837 ETH, valued at $14.6 billion on a fair value basis. Over the fiscal 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: Can ETH clear resistance at $2,100?

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

A bearish near-term bias remains evident on ETH's daily chart, with the price trading below the 20-day, 50-day and 100-day Exponential Moving Averages (EMAs). These averages are grouped in a range of roughly $2,252 to $2,348. ETH has yet to regain these dynamic resistance levels, while momentum remains weak: the 14-day Relative Strength Index (RSI) is near 33, and the Stochastic Oscillator (Stoch) stands around 18 in oversold territory. Together, these signals point to continued downside pressure, although short-term selling may be easing somewhat.

Any recovery would first encounter resistance at $2,101, before a nearby horizontal ceiling at $2,204. A closer barrier at $2,250 is reinforced by the 20-day EMA at $2,251. Beyond that, the 100-day EMA at $2,327 and the 50-day EMA at $2,348 stand ahead of a more formidable hurdle at $2,355. Higher resistance levels lie at $2,548, followed by $2,636 and $2,781.

If the decline resumes, the first support lies near $1,971. Below this, a more substantial floor sits around $1,828, where buyers would be expected to display greater conviction should losses deepen.

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