Ethereum stays under pressure after weekly drops; ETH tests $1,505 and trades near $1,684

Ethereum remains in a downtrend after losing over 15% last week and briefly dipping to $1,505, with price now hovering around $1,684. BitMine Immersion Technologies bought 126,971 ETH last week, lifting its holdings to 5.54 million ETH and a stated ~4.59% of circulating supply. Technically, ETH is below its 50-day, 100-day and 200-day EMAs, with resistance levels outlined at $1,747, $2,000, $2,058, $2,189 and $2,441.