Ethereum Price Forecast: ETH sees mild gains following AI stock rebound​

Ethereum price today: $2,080

• Ethereum gained nearly 3% following a rebound in AI-related equities.
• BitMine reported a $6.3 billion net loss for the fiscal year ended August 31, driven by a 44% decline in ETH.
• ETH faces the $2,100 resistance after bouncing near $2,000.

Ethereum (ETH) is up 2.7% on Wednesday as gains across AI-related equities spill into the crypto market.

The NASDAQ gained 1.7%, while the S&P 500 rose 1.1% on the day. The rebound in stocks was boosted by a 20% jump in neocloud provider CoreWeave (CRWV) after its Q3 earnings beat analysts' estimates. Chipmaker Nvidia also saw a rebound after two straight days of losses.

The move sparked a 4% rise in the Philadelphia Semiconductor Index (SOX).

Those gains trickled into the crypto market, which has been showing strong positive correlation with AI-related equities over the past year.

Ethereum is approaching the $2,100 level, notching a mild recovery from its decline to $2,000 after Tuesday's hot inflation report renewed expectations of a rate hike. Odds of a 25-basis-point hike at the Federal Reserve's (Fed) December meeting spiked above 90% following the report.

BitMine report $6.3 billion losses

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

The company held 5,901,837 ETH with a fair value of $14.6 billion as of the end of August. ETH declined from $4,390 to $2,466 in the fiscal year, erasing 44% of its value.

"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," BitMine wrote in the filing.

Ethereum technical outlook: ETH faces resistance at $2,100

Ethereum recorded $31.1 million in liquidations over the past 24 hours, led by $22.8 million in short liquidations, per Coinglass data.

On the daily chart, ETH maintains a bearish near-term bias as price holds beneath the 20-day, 50-day and 100-day Exponential Moving Averages (EMAs), clustered between roughly $2,252 and $2,348. The failure to reclaim these dynamic barriers, alongside subdued momentum with the 14-day Relative Strength Index (RSI) hovering near 33 and the Stochastic Oscillator (Stoch) around 18 in oversold territory, suggests downside pressure persists even as short-term selling may be losing some intensity.

On the topside, initial resistance emerges at $2,101, followed by a nearby horizontal cap at $2,204 and a tighter barrier at $2,250, reinforced by the 20-day EMA at $2,251. Above these, the 100-day EMA at $2,327 and 50-day EMA at $2,348 precede a stronger hurdle at $2,355. Further north, subsequent resistance levels are seen at $2,548, then $2,636 and $2,781.

On the downside, immediate support is aligned near $1,971, ahead of a more significant floor around $1,828, where buyers would be expected to show more conviction if the decline extends.

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