BitMine (BMNR) stock closed last Friday with a 4.35% gain, pushing its last week’s rise to 27.78%. But that rally came before a sharp weekend correction in Ethereum. Since November 28, ETH has dropped over 9%, creating a setup where BMNR could face pressure this week.
The stock usually reacts to Ethereum’s weekend moves, and this link may shape how BMNR trades in the coming days.
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Ethereum-Led Pressure Builds On Charts
BMNR has a history of reacting to ETH’s weekend direction.
A clear example came between September 19 and September 22, when ETH fell nearly 12% over the weekend. BMNR opened the next session with a gap-down of about 4.84%.
Ethereum Price Action: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
A similar setup now exists, with Ethereum down over 9% this weekend. This creates the conditions for a weak start to the new week. This creates the conditions for a potential gap-down opening and increased volatility.
This idea gains support from the BMNR daily chart.
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Between November 12 and November 28, the price formed a lower high, while the Relative Strength Index (RSI) formed a higher high. RSI measures momentum on a 0–100 scale. This mismatch is a hidden bearish divergence and often appears before pullbacks.
BMNR Divergence: TradingViewTogether with ETH’s weekend drop, it increases the chances of early-week weakness for BMNR.
Now let’s look at the money flow. CMF, or Chaikin Money Flow, tracks whether big-money buyers or sellers are in control.
Between November 14 and November 28, BMNR made a lower high while CMF made a higher high. This small divergence hints that large buyers are not fully exiting yet. That could limit the pullback if the gap-down theory holds.
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But CMF is still trading well below the descending trend line connecting recent lower highs, and it is still below zero.
Bigger Money Flow Needed: TradingViewThat means strength is developing, but not enough to dominate the early part of the week. It supports the idea of a soft opening rather than last week’s continuation.
Key BMNR Stock Price Levels for the Week Ahead
Even if the BMNR stock price opens weak, the structure does not fully break unless one critical support level falls.
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$30.66 is the most important support. A daily close under this level can push BMNR toward $25.11 in the short term. If Ethereum keeps weakening, a deeper drop toward $19.95 becomes possible.
For upside: $35.26 is the first major resistance. A daily close above this level signals buyers regaining control. If that happens, BMNR can extend the rebound toward $43.75 and even $54.49, but this outcome looks unlikely while ETH remains under pressure.
BMNR Price Analysis: TradingViewRight now, the stock finished last week strong, but Ethereum’s 9% weekend drop adds weight to the fragile trend.
BMNR stock still holds long-term potential, but the next few sessions depend heavily on whether it can stay above $30.66 while the broader crypto market, especially ETH, searches for stability.
Source: https://beincrypto.com/bmnr-stock-weak-week-ethereum-drop-analysis/
