BitMine Immersion Technologies is showing early signs of recovery after a difficult November marked by significant losses and sustained bearish pressure.
The company’s Ethereum-focused treasury division struggled during the market downturn, but broader improvements are now helping BMNR regain momentum.
BitMine could witness changes
The moving average convergence-divergence indicator reflects a significant improvement in sentiment. BMNR is approaching a potential bullish crossover, which would mark the end of a month-and-a-half bearish phase. The MACD line is approaching the signal line, indicating that momentum is shifting from negative to positive. Such crossovers could reinforce growing confidence among investors.
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If confirmed, this would be the first bullish signal for BMNR in weeks. Changes of this magnitude often precede broader trend reversals, especially when combined with strengthening market conditions.
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Macro indicators are also aligned in favor of BMNR. Chaikin money flow has recorded an increase, indicating that capital outflows are easing. Although the index remains in negative territory, the upward movement indicates that selling pressure is easing. As BMNR stabilizes after weeks of volatility, investors appear to be reconsidering their stance.
A move above the CMF zero line will confirm the return of inflows. This shift may indicate meaningful accumulation that provides the fuel needed for a deeper recovery. Once confidence returns, Bitcoin could benefit from stronger liquidity and reduced downside risk.
BMNR price becomes bearish
BMNR has fallen nearly 42% since the beginning of the month, hitting its lowest single-day closing price. However, the stock has risen 17.8% this week and is currently trading at $31.74. This rebound marks the strongest performance in nearly two months and signals a possible trend reversal.
BMNR’s next major targets are $34.94 and $37.27, with $41.15 being a key upside milestone. Given the signals that momentum is improving, reaching these levels is possible if the bullish pressure continues. If the technical reversal is confirmed, the stock price will move towards these resistance zones.
If momentum does not develop, BMNR may remain constrained below $34.94 or fall below $30.88. A breakdown could push the stock to $28.00 or even $24.64, invalidating the bullish argument and potentially prolonging the decline.
