Ethereum Price Eyes Split: Can ETH Foundation Get $2.8K Back After Loading 10K Coins?
TLDR:
Ethereum price trades around $2,300 while holding support above key $2,000 in early recovery phase
The Ethereum Foundation sold 10,000 ETH worth $23.9 million at an average price of $2,387.
As the price of Ethereum tries to regain key protection zones, technical indicators show possible changes
The market structure shows a consolidation between 2,000 and 2,800 dollars
Ethereum was trading around $2,300 as the market structure showed early signs of recovery after a long correction process. At the same time, new information has confirmed that the Ethereum Foundation has made a large sale of ETH to support its operational needs.
Market structure signals gradual recovery of Ethereum price
Recent chart data shared by Ali Charts has indicated a change in trend momentum. The update indicated that the SuperTrend indicator has flashed a buy signal for the first time since May of last year. This signaled a possible end to the extended consolidation phase.
Ethereum's price action is now signaling a transition from a correction to a fundamental formation phase. The chart shows historical cycles where bullish zones are often preceded by strong upward moves. The price remained above the $2,000 support level at $2,318.
The structure followed a familiar sequence of expansion, distribution, decline, and accumulation. They have made gains of over 50% in previous rallies and over 170% in previous cycles. These moves occurred after similar buy signals appeared near strong support zones.
Currently, the price of Ethereum remains below the $2,800 resistance level. However, it has begun to interact with a key trend band that previously acted as resistance. Retrieving this level could support a further upward move into higher resistance zones.
The chart also indicates that a break above $2,000 could retest the $1,600 area. As a result, this price zone remains critical for the short-term direction. Market participants continue to watch if the price of Ethereum can sustain the momentum above the current level.
The sale of the Ethereum Foundation will increase the supply to the market
In a separate update, BSCN reports that the Ethereum Foundation has sold 10,000 ETH. The sale averaged $23.9 million at $2,387 per penny. The fund supports practical activities in various initiatives.
This trade occurred when the Ethereum price hovered near key resistance. Although such sales are not unusual, they often attract attention due to their size. The foundation has previously made similar transactions to fund ecosystem development.
The timing of the sale has put more supply into the market during the recovery phase. Nevertheless, the Ethereum price continues to hold above its recent lows. This shows that demand is stable despite increased supply.
Moreover, the broader structure still points to a consolidation range between $2,000 and $2,800. Price movement in this range indicates a continuing balance between buyers and sellers. A break out of this zone may define the next directional move.
The price of Ethereum continues to reflect both technical recovery signs and foreign market activity. As accumulation patterns develop, traders focus on proof over defensive levels. At the same time, institutional actions such as these sales remain part of the broader market environment.
