Ethereum holds $2,200 as BitMine NYSE debut fuels bullish bets

The cryptocurrency market has been stable over the past 24 hours, with Bitcoin holding above $71,000.

Ether, the second-largest cryptocurrency by market cap, is back at $2,200 after retesting the $2,150 support level on Thursday. 

The coin’s positive performance comes as the Ethereum (ETH) treasury firm BitMine Immersion Technologies uplisted its common stock to the New York Stock Exchange (NYSE) on Thursday, after ceasing trading on the NYSE American on Wednesday.

BitMine uplists its common stock to the NYSE

BitMine announced on Thursday that it has uplisted its common stock to the New York Stock Exchange (NYSE). This latest development comes after the company ceased trading on the NYSE American on Wednesday.

In a statement, BitMine Chairman Thomas Lee mentioned that,

"Today, Bitmine achieved a major milestone by being uplisted to the 'Big Board' NYSE [...] The NYSE is the envy of capital markets around the world, and Bitmine is proud to be the newest company traded on this exchange."

BitMine also announced that its Board of Directors unanimously approved expanding its share repurchase program from a total authorization of $1 billion to $4 billion. Citing data from Fundstrat, BitMine claims the expansion ranks it among the ten largest corporate buybacks announced in 2026.

This latest development comes shortly after BitMine increased its treasury holdings, purchasing 71,252 ETH in the week ending April 5, its largest acquisition since December. Thanks to this latest acquisition, the company now holds 4.803 million ETH. 

In addition, US spot ETH exchange-traded funds (ETFs) posted inflows on Thursday after two consecutive days of net outflows.

According to CoinGlass, US spot ETH ETFs posted an inflow of $85 million on Thursday, led by BlackRock’s ETHA fund. 

Ethereum price forecast: ETH targets the $2,388 resistance level

The ETH/USD 4-hour chart has been positive over the past few days. At press time, ETH is trading at $2,199 per coin, up by less than 1% in the last 24 hours. 

ETH is currently trading above the 20-day Exponential Moving Average (EMA) at $2,117 and the 50-day EMA at $2,153, while still capped beneath the 100-day EMA at $2,389. Its current price action suggests a recovery phase within a broader corrective backdrop.

The Relative Strength Index at 61 leans bullish without being overbought, while the MACD lines also support further buying pressure. 

If the buyers remain in control, they would encounter immediate resistance around $2,390, where a horizontal barrier aligns with the 100-day EMA. 

A daily candle close above this level would open the way toward the next resistance levels at $2,746 and then $3,411.

However, if the sellers regain control, initial support is seen at the 50-day EMA at $2,153, followed by the 20-day EMA at $2,117. Breaking this support level would expose the horizontal level at $2,108, forming a dense demand area.