Tom Lee’s Relentless ETH Buying Puts BMNR Stock on a Possible 55% Breakout Path
The BMNR value has began heating up once more. It is up greater than 5% previously 24 hours and virtually 10% within the final 5 days, outperforming Ethereum’s 8% weekly achieve. The surge comes simply as BitMine Chairman Tom Lee reportedly swept one other $150 million value of ETH off exchanges.
With Ethereum strengthening after the Fusaka improve and BMNR monitoring the ETH value extra intently, merchants at the moment are asking whether or not this crypto momentum can set off a a lot bigger inventory value breakout.
ETH Spree and Rising Correlation Give BMNR Stock a Strong Tailwind
Arkham intelligence recognized two contemporary wallets withdrawing $92 million in ETH from Kraken and one other $58 million from BitGo, mirroring earlier BitMine purchase signatures. Tom Lee has persistently positioned BitMine as an ETH-centric treasury firm, and this aggressive shopping for reveals that technique has not slowed in any respect.
BMNR’s hyperlink to Ethereum is tightening as nicely. The inventory’s correlation with ETH climbed from 0.47 to 0.50, that means BMNR reacts extra on to Ethereum’s strikes. If ETH continues rising after the Fusaka improve, BMNR tends to comply with — and when Tom Lee is shopping for throughout the identical window, the impact turns into even stronger.
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Together, Lee’s accumulation and BMNR’s rising correlation create a setup the place the inventory behaves like a leveraged Ethereum proxy, pushed by ETH cycles and treasury positioning.
Two Key Divergences Point to Strength Building Beneath the Surface
The each day chart is displaying early indicators of accumulation.
Money circulation, principally from giant wallets — captured by the Chaikin Money Flow (CMF) indicator — has began rising even whereas BMNR’s value pulled again.
Between November 28 and December 3, the inventory made a decrease high, however CMF made a larger high. This hints at a clear bullish divergence. This typically alerts that deeper pockets are shopping for dips extra aggressively than retail individuals. CMF nonetheless must cross above the zero line to verify a full shift in momentum. Yet, the underlying demand is selecting up.
Volume tells the identical story.
The On-Balance Volume (OBV) indicator has been climbing whereas the BMNR value lagged, hinting at accumulation hiding beneath the floor.
OBV now wants to interrupt above its descending trendline to validate the development. Once it does, quantity power aligns with money-flow power — a basic pre-breakout construction.
In mixture, these divergences present BMNR’s strongest consumers stepping in early, constructing a basis that usually seems earlier than main technical reversals.
A 55% Upside Target Could Shape the BMNR Price Path
The 4-hour BMNR value chart presents the clearest construction: an inverse head and shoulders sample growing. The neckline is sloping downward, which alerts sellers nonetheless have some affect and that a breakout would require robust quantity affirmation. That is the place the OBV breakout turns into all of the extra vital.
BMNR is currently trading close to $33.59. A decisive transfer above the $33.99 zone would activate the sample totally. Based on the measured transfer, the upside goal sits close to $52.70, representing a potential 55% rally if the breakout completes.
On the draw back, $24.31 stays the important thing invalidation zone.
With Tom Lee supposedly shopping for $150 million in ETH, Ethereum gaining traction post-Fusaka, bullish divergences showing on the each day chart, and a main reversal sample forming on the 4-hour timeframe, the BMNR value is coming into a uncommon second the place fundamentals and technicals align.
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