Ethereum Price Forecast: ETH edges higher as AI stocks recover

$2,080: Ethereum price today

• Nearly 3% was added to Ethereum's price as AI-related equities recovered.
• A 44% fall in ETH drove BitMine's $6.3 billion net loss for the fiscal year ended 31 August.
• After rebounding near $2,000, ETH confronts resistance at $2,100.

Ethereum (ETH) has risen 2.7% on Wednesday. The advance reflects gains in AI-related equities feeding through to the crypto market.

A 20% surge in neocloud provider CoreWeave (CRWV), whose Q3 earnings exceeded analysts' forecasts, helped fuel the stock market recovery. The NASDAQ advanced 1.7% and the S&P 500 added 1.1% on the day. Chipmaker Nvidia also recovered following two consecutive days of declines.

The Philadelphia Semiconductor Index (SOX) climbed 4% as a result.

Crypto prices benefited from the equity gains. Over the past year, the crypto market has displayed a strong positive correlation with AI-related equities.

After falling to $2,000, Ethereum has recovered modestly towards $2,100. Tuesday's hot inflation report had revived expectations of a rate hike, with the probability of a 25-basis-point increase at the Federal Reserve's (Fed) December meeting surging above 90% after the release.

$6.3 billion net loss reported by BitMine

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

At the end of August, BitMine held 5,901,837 ETH valued at $14.6 billion on a fair value basis. During the fiscal year, ETH lost 44% of its value, falling 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,"

$2,100 resistance in focus: Ethereum technical outlook

Coinglass data show $31.1 million in Ethereum liquidations over the past 24 hours. Short positions accounted for the largest share, at $22.8 million.

Trading below its 20-day, 50-day and 100-day Exponential Moving Averages (EMAs), ETH retains a bearish near-term bias on the daily chart. These averages cluster between roughly $2,252 and $2,348, and price has yet to reclaim them. 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, these signals suggest continued downside pressure, although short-term selling may be easing.

The first upside hurdle stands at $2,101. Beyond it lie a nearby horizontal ceiling at $2,204 and a tighter barrier at $2,250, backed by the 20-day EMA at $2,251. The next obstacles are the 100-day EMA at $2,327 and the 50-day EMA at $2,348, before stronger resistance at $2,355. Higher resistance levels follow at $2,548, $2,636 and $2,781.

Immediate downside support sits near $1,971. A more substantial floor lies around $1,828, where buyers would be expected to act with greater conviction should the decline continue.

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