Ethereum

Ethereum Foundation has sold 550 ETH, valued at $1.28 million, over the last four days. This move <a href="https://x.com/spotonchain/status/1831605347913757082" rel="noopener noreferrer nofollow">follows</a> a Thursday sale by Ethereum co-founder Vitalik Buterin. According to data from Spot On Chain, the foundation sold 450 ETH for $1.029 million in DAI. These transactions averaged $2,324 per ETH, sparking discussions on the timing and implications of the significant sell-off.Bullish Momentum BuildingCrypto analyst Michael van de Poppe remains optimistic, pointing out that the ETH chart shows signs of a potential market reversal. In an X post on Monday, he noted that a bullish divergence remains valid, and Ethereum has established a higher low. The analyst suggests that the long-standing downtrend, which has impacted ETH prices for months, may be on the verge of breaking upward.Ethereum Key Resistance ZoneThe analysis highlights key areas that traders are watching closely. <a href="https://cryptotale.org/vaneck-to-close-ethereum-futures-etf-deadline-in-september/" rel="noopener noreferrer nofollow">Ethereum</a> has dropped 28% since its recent peak, but the formation of a higher low signals possible positive momentum. The crucial resistance zone lies between 0.0515 and 0.0530 BTC. Analysts view this area as key for a potential trend reversal.As of press time, Ethereum is priced at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">$2,303</a>, reflecting a 0,72% increase over the last 24 hours. Despite this short-term gain, ETH has seen a decline of 8.28% in the past week, indicating some ongoing market pressure. In terms of activity, Ethereum has maintained a robust 24-hour trading volume of $13.06 billion, highlighting strong market engagement despite recent price fluctuations.<a href="https://cryptotale.org/ethereum-foundation-sells-550-eth-raising-market-concerns/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum Foundation Sells 550 ETH, Raising Market Concerns

CryptoTale

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