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Ethereum price is still unable to regain the $2,000 level as every upward attempt ends in a quick rejection, causing the price to return to the downward path.
Renowned analyst Ari Martinez noted that the currency formed a bullish flag pattern, but with important reservations.
The current pattern follows a multi-week downtrend, which brings it closer to a reversal flag in a downtrend.
In his opinion, the next big move may not be a rise, as some expect, but could push prices below $1,400.
Analyst “Daan” explained that Ethereum’s performance in early 2026 will be weaker than the trend in early 2025, and hopes that Ethereum will see a historic improvement from March to May, which is usually beneficial to the asset.
In terms of institutional inflows, the Ethereum ETF continues to record net exits, with exits last week at approximately $113 million, reflecting weak demand.
On the other hand, BitMine led by Tom Lee continued its buying and accumulation policy, purchasing an additional 45,759 ETH, increasing its holdings to 4.37 million ETH, worth approximately $8.7 billion.
However, given its average acquisition price of $3,820, the company still has about $8 billion in unrealized losses.
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