Ethereum price today: $2,030

• Ethereum treasury firm Bitmine Immersion grew its stash to 4.47 million ETH last week.
• BitMine's Chairman, Thomas Lee, noted that the impact of US military actions against Iran would be "felt" across digital assets in the coming weeks.
• ETH eyes another routine rejection at the resistance near $2,110.

Ethereum (ETH) treasury firm BitMine Immersion (BMNR) bought another 50,928 ETH last week, sending its stash of the top altcoin to 4.47 million ETH worth about $8.9 billion at the time of publication. That figure represents 3.71% of the entire ETH circulation, bringing the company closer to its goal of accumulating 5% of ETH's circulating supply.

"BitMine continues to methodically execute our Ethereum treasury strategy as we move our way through the later stages of this 'mini crypto winter,'" said BitMine Chairman Thomas Lee in a Monday statement.

The Nevada-based firm also maintains holdings of 3.04 million ETH across three staking providers, which it claims is earning an annualized yield of 2.86% or $172 million. As the year unfolds, BitMine plans to launch a staking infrastructure known as the Made in America Validator Network (MAVAN).

The statement follows the US military action against Iran over the weekend. Lee noted that the impact of the move would be "felt" across the digital asset landscape and global financial markets in the coming weeks.

In an interview with CNBC on Monday, Lee added that March will likely be an up month for crypto and major stocks, highlighting that a majority of these assets have found a bottom.

BitMine also reported holdings of $200 million in Beast Industries, a 195 Bitcoin (BTC) stack, a $14 million stake in Worldcoin treasury Eightco Holdings (ORBS) and total cash of $868 million.

Meanwhile, Ethereum investment products posted their strongest flow since mid-January, recording nearly $117 million in net inflows last week.

Ethereum Price Forecast: ETH eyes routine rejection around $2,110

Ethereum saw about $112 million in liquidations over the past 24 hours, with short liquidations accounting for $64.2 million, according to Coinglass data.

In the 4-hour chart, ETH/USDT trades at $2,045. The near-term bias is mildly bullish as price holds above the 20-period Exponential Moving Average (EMA), which is rising toward the $1,975 area and underpins the recent rebound from sub-$1,900 lows.

The Relative Strength Index (RSI) hovers near 60, and Stochastic (Stoch) remains elevated after recovering from mid-range levels, signaling sustained upside momentum rather than exhaustion at current prices. The bounce from last week's dip toward $1,865 has been accompanied by firm volumes on up candles, reinforcing buyer control in the current leg.

Immediate resistance is located at $2,108, where a break would open the way toward the next upside objectives at $2,389 and $2,746. On the downside, initial support is expected near the dynamic 20-EMA zone around $1,975, with stronger structural backing at $1,741. A drop below $1,741 would neutralize the present bullish bias and expose deeper supports at $1,524 and $1,405.

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