Ethereum

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<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-01_17-28-19.png" alt="Ethereum price prediction chart" style="float:right; margin:0 0 10px 10px;">
Ethereum (ETH) price ran out of momentum slightly above $1,800 dampening investor optimism for a run-up above $2,000. While declines have been minor below the immediate support/resistance at $1,800, bulls lack the momentum to resume the uptrend.
Meanwhile, a report of the&nbsp;<a href="https://coingape.com/vitalik-buterin-moves-ethereum-to-coinbase-eth-price-to-rally/?utm_source=24hrsupdatealtcoin" rel="noopener noreferrer nofollow">co-founder of Ethereum,</a>&nbsp;Vitalik Buterin, transferring 100 ETH to Coinbase is raising concerns over the future of the ecosystem, with some expecting headwinds. Chinese reporter was the first to mention the transaction worth around $181,000 at the time of transfer.
<blockquote class="twitter-tweet">
 The Vitalik holding address vitalik.eth transferred 100 ETH ($181,000) to Coinbase today. Previously, Vitalik stated that he had not sold ETH for personal benefit since 2018, mainly donating it to a charity or non-profit organization or other projects.<a href="https://t.co/jmuDIPOOTM" rel="noopener noreferrer nofollow">https://t.co/jmuDIPOOTM</a>
 — Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1719554796351586522?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 1, 2023</a>
</blockquote>

<h2 class="p1" id="why-is-buterin-moving-ethereum">Why Is Buterin Moving Ethereum</h2>
This is not the first time the co-founder has transferred his Ethereum holdings. He recently addressed similar concerns, saying that he had not sold any Ether since 2018 at least not for business or personal gain.
Buterin mainly donates his ETH holdings to charity, non-profit organizations, and other projects.
However, the community accepted Buterin’s statement with a grain of salt, with some like @JasonWavesRider (a user on X (formerly Twitter) raising more concerns that something bigger could be coming.
<blockquote class="twitter-tweet">
 Interesting to see Vitalik moving ETH, especially since he said he hadn't sold ETH for personal benefit since 2018. Wonder what he's up to. <a href="https://twitter.com/hashtag/ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ethereum</a> <a href="https://twitter.com/hashtag/vitalikbuterin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#vitalikbuterin</a>
 — Maket Waves Rider (@JasonWavesRider) <a href="https://twitter.com/JasonWavesRider/status/1719555970643415353?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 1, 2023</a>
</blockquote>

He may be moving ETH due to personal reasons or it could be that he is financing another project. Either way, the real reason behind these frequent transfers remains unknown.
<h2 class="p1" id="where-is-ethereum-heading-amid-uncertainty">Where Is Ethereum Heading Amid Uncertainty</h2>
The uncertainty around the lack of transparency regarding transactions made by Buterin is not helping the token which must regain the ground above $1,800 to ensure investor confidence in the uptrend is not lost.
Based on the Relative Strength Index (RSI) retreating from the overbought region, the&nbsp;<a href="https://coingape.com/price/ethereum/" rel="noopener noreferrer nofollow">price of Ethereum</a>&nbsp;is likely to slide significantly below $1,800. Support at $1,740 may provide the necessary liquidity to create the momentum for a larger breakout toward $2,000.
<figure style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-01_17-28-19.png" rel="noopener noreferrer nofollow"><img src="https://coingape.com/wp-content/uploads/2023/11/ETHUSD_2023-11-01_17-28-19.png" alt="Ethereum price prediction chart" width="2710" height="1454"></a>
 <figcaption>
 Ethereum price prediction chart | Tradingview
 </figcaption>
</figure>
As Ethereum rebounds above $1,800 traders will start to identify critical levels such as the descending trendline that stopped the bullish party in October. A successful breakout is needed at this price point to affirm the positive outlook as well as the uptrend.
The next key level would be the seller congestion at $1,900 which will either pave the way for the climb to $2,000 or delay the breakout for a period of consolidation, not to mention, the possibility of a correction back to $1,800 or a lower support area like $1,740.
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The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/ethereum-price-forecast-will-vitalik-buterins-100-eth-transfer-to-coinbase-affect-ether/">Ethereum Price Forecast: Will Vitalik Buterin’s 100 Ether Transfer Trigger ETH Sell-Off?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Ethereum Price Forecast: Will Vitalik Buterin’s 100 Ether Transfer Trigger ETH Sell-Off?

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