by Coinstrooper Crypto Articles
Quick Take
  • BMNR stock is up 4.3% today, even as it remains down more than 21% over the past five days, mostly following Ethereum’s 12% slide this week.
  • The last time this happened, BMNR moved much earlier than Ethereum.
  • With bottoming signs flashing across crypto, traders are watching to see if history is lining up once more.
  • Between June 26 and July 3, Ethereum moved only 10%.

What Happened

The last time this happened, BMNR moved much earlier than Ethereum. With bottoming signs flashing across crypto, traders are watching to see if history is lining up once more.

BMNR Has Front-Run Ethereum Before — And Conditions Look Similar

Between June 26 and July 3, Ethereum moved only 10%. In that same period, BitMine (BMNR) surged 3,993% from $3.91 to $160.10. It is worth noting that the Q3 results came out on July 2.

Market Context

BMNR stock is up 4.3% today, even as it remains down more than 21% over the past five days, mostly following Ethereum’s 12% slide this week. With Q4 earnings set for November 21, early strength in the BMNR price has raised the question of whether the stock is positioning itself ahead of the market, again.

Only after BMNR’s explosion did Ethereum begin its real run, rallying more than 100% from early July to late August. BMNR had clearly priced in the move earlier, showing a pattern of reacting to expectations rather than the move itself.

Now, with several bottoming signals forming across Bitcoin and Ethereum, traders are asking whether BMNR is again sensing a shift under the surface. The stock is stabilizing right before earnings — the same timing as its July behavior — while the broader crypto market is trying to form a base.

Divergence Still Supports the Uptrend, but Volume Must Confirm the Breakout

RSI (Relative Strength Index) measures price momentum. Between June 27 and November 17, BMNR made a higher low, while RSI made a lower low. That is hidden bullish divergence, which appears in assets that remain in long-term uptrends even during strong pullbacks.

But the real confirmation still rests with On-Balance Volume (OBV). OBV adds volume on up days and subtracts volume on down days to show who controls the market.

OBV remains below a descending trend line, which has capped every attempt at recovery.

From September 5 to November 17, the BMNR price made a lower low, but the OBV made a higher low. This is often a sign that seller pressure is fading in the background, even if the price hasn’t reacted yet.

Key BMNR Price Levels To Track Now

Why It Matters

This brings us to what BMNR’s own indicators are signaling.

Details

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RSI has also bounced from oversold conditions, giving BMNR a steadier base ahead of the earnings call.

Here is what matters now:

OBV is now curling upward as the result date approaches.

A break above this OBV trend line is the technical trigger that usually leads to large moves in BMNR.

There is also a long-term OBV divergence on the chart.

If OBV breaks out, BMNR’s correlation with Ethereum strengthens — as it did before the July rally.

BMNR has held $30 as major support since early August. The stock’s current stabilization shows this level is still active.

If $30 holds:

BMNR can push toward $39 first.

A break above $43 opens a path to $52-$58.

A full extension toward $65 (a gain of over 100%) becomes realistic if Ethereum picks up even a modest rebound.