The price of Ethereum (ETH) has risen by 1.91% in the past 24 hours, reaching $2,666.49. The market cap has also increased by 1.92% to $321.4 billion. However, trading volume has decreased by 48.83% to $15.15 billion, indicating reduced activity.

The Ethereum Foundation has transferred 50,000 ETH, worth $131.66 million, to a multi-signature wallet for participation in decentralized finance (DeFi). This aligns with community proposals to generate yield instead of selling ETH, potentially reducing sell pressure and strengthening Ethereum's role in the DeFi ecosystem.

Ethereum is currently testing resistance at $2,762, with a potential breakout pushing the price toward $2,800 and $3,000. On the downside, if the key support level at $2,640 breaks, the next target is $2,500, although stronger demand is expected in that range.

Technical indicators suggest mixed sentiment. The Relative Strength Index (RSI) is approaching oversold territory at 40.18, indicating weak buying momentum. The bearish crossover of the moving averages and the negative Chaikin Money Flow (CMF) suggest short-term downside risk and limited buying pressure.

The near-term outlook for ETH depends on whether it can break resistance or hold above key support. The Ethereum Foundation's transfer of 50,000 ETH may contribute to the long-term stability of the ecosystem. However, the price action remains fragile, and the movement of Bitcoin will likely determine the next significant move.



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