BMNR Cools After 40% Surge, $3.50 Key Support Test
$BitMine Immersion Technologies Inc.(BMNR)$
BMNR cooling after 40% weekly surge:$3.50 key line for momentum traders
Close $3.69 (-5.14%), intraday $3.60–$3.89, volume 12.88 M vs avg 9.72 M, showing mild distribution after a heavy speculative run.
The stock has surged more than +200% month-to-date, driven by Bitcoin’s rebound and retail flows chasing small-cap crypto-linked plays.
Technical outlook:
MACD + RSI + EMA → MACD still positive but flattening, closed slightly negative;
RSI ≈ 64, fading from overbought territory;
EMA20 ≈ 3.45, acting as short-term support.
SAR flipped neutral, indicating the uptrend is pausing.
Support: $3.50 → $3.20 → $3.00;
Resistance: $3.85 → $4.10 → $4.45.
A decisive close below $3.50 may confirm a short-term pullback, while reclaiming $3.90 would re-ignite the rally.
Valuation:
No meaningful P/E (loss-making); β ≈ 3.2, market cap ≈ $120 M.
Valuation detached from fundamentals — movement primarily tracks Bitcoin’s sentiment and liquidity cycles.
1–2 week outlook:
Likely consolidation $3.30–$4.00 with high volatility. A base above $3.50 keeps bullish bias; failure there risks deeper retracement toward $3.00.
Sources: Yahoo Finance (latest close, P/E, range); TradingView (daily MACD/RSI/SAR/EMA). Not investment advice.
For whom haven't open CBA can know more from below:
🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!
Find out more here：
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
