CandleFocus

Ethereum’s Balancing Act: Bullish Momentum vs. Foundation Selling Pressure

Author: Content Editor
The Ethereum Foundation has sold 100 ETH at a price of $2,645, bringing their total sales in September to 1,050 ETH worth approximately $2.53 million. These strategic selling transactions raise questions about their impact on the market, particularly as ETH shows signs of recovery. The current price of ETH is $2,651.16, reflecting a 2.23% increase over the past 24 hours. Trading volume has increased significantly, indicating increased market interest and the possibility of more volatility. The price of ETH has bounced back from a support level of $2,593, creating bullish momentum that could push it towards a local high of $2,675. Key support and resistance levels to watch are $2,593 and $2,550, respectively. ETH faces immediate resistance at $2,675 and could potentially reach $2,700 if this level is broken. The RSI is in neutral territory, suggesting further price movement, and the MACD indicates growing bullish momentum.

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