- BlackRock is showing stronger interest in Ethereum, with tech teams favoring it over Bitcoin due to ETH’s smart contract and dApp capabilities.
- Ethereum’s price is under pressure, sitting near $1,870; a break below could send it toward $1,500, while resistance at $2,100–$2,200 remains tough.
- Mixed technical signals: Stochastic RSI hints at a short-term bounce, but overall RSI is at its lowest since mid-2022, signaling continued bearish momentum.
So here’s something interesting—BlackRock, yeah that BlackRock, the biggest investment firm on the planet, is apparently more hyped about Ethereum (ETH) than Bitcoin right now.
According to Robert Mitchnick, who heads up digital assets at the firm, the excitement is leaning way toward ETH, especially among the more tech-minded folks at BlackRock.
“For every four people excited about Ethereum,” Mitchnick said, “only one is focused on Bitcoin.”
That’s… kind of a big deal. Considering BlackRock already manages iShares Bitcoin Trust (IBIT)—aka the biggest BTC ETF out there—this shift in energy feels like something’s brewing behind the scenes for ETH.
Why the switch-up? Simple: Ethereum isn’t just a coin. It’s a platform. It runs smart contracts, powers decentralized apps, and is kinda the backbone of most of Web3. Oh—and the number of validators on Ethereum is rising, which means more people are helping secure the network. That’s growth, plain and simple.
But Wait—Is Ethereum Still Bullish… or Nah?
While the BlackRock buzz sounds bullish, Ethereum’s chart is giving more of a “hold up” than a “let’s go.”
Analyst Josh from Cryptio World says there’s still some heavy bearish pressure floating around. Sure, there’ve been some small bounces here and there, but the big picture? Kinda shaky.
ETH recently fell below a major support line—one that had held for years. Breaking that was a pretty strong signal that this might not just be a dip—it might be the start of a bigger trend shift.
Right now, ETH is hovering around $1,870, which lines up with the 78.6% Fibonacci retracement level. If that cracks? The next likely stop could be somewhere near $1,500, which is a previous low and not exactly where bulls want to be looking.
Bounces, Resistance, and Mixed Signals
Even if Ethereum manages to bounce back, there’s still a wall of resistance waiting at around $2,100–$2,200. That zone’s already sent ETH packing once before. Breaking above it? Not impossible, but it’s going to take some serious momentum.
Now here’s the confusing part—the Stochastic RSI is flashing a bullish signal, which usually hints at a short-term bounce. But at the same time, the regular RSI is at its lowest point since like, June 2022. So basically, bulls might get a tiny window to breathe… but the larger trend still looks bearish.
Final Thoughts
Ethereum’s got the backing of giants like BlackRock, a growing validator network, and loads of potential in the long run. But in the short term? It’s walking a tightrope. Price action’s not looking great, key support levels are under pressure, and momentum is kinda all over the place.
If it holds $1,870, cool—we might see a bounce. If it doesn’t? Eyes on $1,500. And if you’re betting on a rally, don’t forget about that resistance wall near $2,200—it’s not going down easy.
