Ethereum price has risen by a fraction of a percentage over the past 24 hours to trade at $2,939 as of 1:49 a.m. EST, with trading volume down 44% to $7.9 billion.
ETH continues to flirt with the $3,000 zone as major financial institutions bet big on the altcoin king.
Tom Lee’s BitMine Immersion Technologies has intensified its bullish sentiment for the price of Ethereum and its ETH strategy, after staking a total of 342,560 ETH, worth approximately $1 billion.
Tom Lee(@fundstrat)’S #Bitmine keeps moving $ETH on strike.
The past 2 days, #Bitmine deployed 342,560 $ETH($1 billion).https://t.co/P684j5YQaGhttps://t.co/pXHT9mCPUC pic.twitter.com/0Y9XBShQzI
— Lookonchain (@lookonchain) December 28, 2025
BitMine is one of the largest digital asset treasury companies, which has set a goal of owning around 5% of Ethereum’s supply. The company currently owns over 4 million ETH tokens, which is approximately 3.4% of the total Ethereum supply.
The crypto market is keeping an eye on certain global developments that are likely to shape market sentiment this week, which could in turn impact the price of the second-largest cryptocurrency by market capitalization, including the Zelensky-Trump meeting.
Russian forces have hit the Ukrainian capital and key energy facilities with a massive airstrike on the eve of talks between Ukrainian President Zelensky and US President Trump.
🚨 JUST IN: The White House has moved PRESIDENT TRUMP’s meeting with Zelensky in Florida tomorrow to 1:00 PM ET
PRAY FOR PEACE.
Trump wants to end the war between Russia and Ukraine before the new year! 🇺🇸 pic.twitter.com/3v41Y9dkY7
— Eric Daugherty (@EricLDaugh) December 28, 2025
Sunday’s meeting will take place in Palm Beach, Florida, as part of an agreement to end Russia’s nearly four-year invasion.
Ethereum price faces indecision within a consolidation zone
The ETH price Bulls are currently showing indecisiveness after ETH formed a rounded top structure earlier this year, having reached a cycle high near $4,927 before losing momentum.
After the rejection from this high, Ethereum underwent a prolonged correction, completing the rounded top pattern and falling sharply towards the $2,700 support zone, which lines up with the Fibonacci retracement level of 0.786.
This support region has since acted as a strong demand area, compressing Ethereum price action within a sideways consolidation range while limiting upside attempts below the $3,300 resistance zone.
ETH remains under bearish pressure after forming a death cross earlier in the decline, with the price still trading below both the 50-day Simple Moving Average (SMA) ($3,052) and the 200-day SMA ($3,585).
Additionally, the Relative Strength Index (RSI) on the daily time frame is currently around 44, slightly higher than recent lows.
This suggests that momentum is stabilizing but remaining below the neutral 50 level, indicating that ETH’s price is still trading within a neutral to bearish zone, rather than in confirmed bullish sentiment.
ETH price prediction
According to the ETH/USD daily chart analysis, ETH price is currently trading in a consolidation phase after a broader bearish correction.
If bulls successfully defend the $2,700 support area and build sustained demand, Ethereum could attempt a relief rally towards the $3,300 resistance, with a higher upside target near $3,550-$3,585 where the 200-day SMA and the 0.5 Fibonacci retracement meet.
However, if bearish pressure continues and Ethereum price records a decisive daily close below $2,700, the next major downside support will be near the $2,200 region, a previous support.
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