BitMine (BMNR) Price’s 17% Rise This Week Could End 7-Week Long Depression

BitMine Immersion Technologies (BMNR), which struggled through November due to market weakness affecting its Ethereum-heavy treasury, is showing early recovery signs. Technical indicators suggest a potential shift; the Moving Average Convergence Divergence (MACD) is nearing a bullish crossover, which would signal the end of a seven-week bearish phase. Furthermore, the Chaikin Money Flow (CMF) is trending upward, indicating easing selling pressure, though it remains in negative territory. BMNR has climbed 17.8% this week to trade at $31.74, its strongest performance in nearly two months. Key upside targets are $34.94, $37.27, and $41.15, provided bullish pressure continues. Failure to gain momentum could see the price capped below $34.94 or drop toward support levels like $30.88 or $28.00.

(Source：BeInCrypto)