Buy $GGsEthereum Foundation Looks to Sell 1,000 ETH, Will Price Crash Again?
Highlights
- Ethereum Foundation's sale of 1,000 ETH could lead to a dip in ETH price.
- The current Ethereum price is up 0.25%, trading at $1,582, but concerns of leverage-driven pump and EF selling could cause a drop.
- A breakout from the current range could lead to a volatile move, with $1,504 acting as a key support level.
Ethereum Foundation sent 1,000 ETH to the Kraken exchange on April 22, likely to sell. This could lead to a potential drop in price. In the past, EF has been criticised for selling ETH, adding overhead selling pressure to the lackluster price performance. The recent transfer of 1000 ETH worth $1.58 million to an exchange could lead to a dip in ETH price.
A wallet linked to the Ethereum Foundation deposited 1,000 $ETH($1.58M) to #Kraken an hour ago.
This wallet received 84,513 $ETH($134M now) from the Ethereum Foundation 10 years ago, when the price of $ETH was ~$1.2.https://t.co/ivl9tIpTzs pic.twitter.com/V0JSOcF2a9
— Lookonchain (@lookonchain) April 22, 2025
CryptoRank’s research shows Ethereum Foundation sold “a total of 4,466 ETH for $12.61M at an average price of $2,823″ in 2024. This move often preceded sharp declines in ETH’s value.
A study from CoinGecko states that “EF’s sales can trigger immediate price reactions,” however, “broader market forces” tend to offset this volatility in the long-term trajectory of Ethereum price.
Ethereum Price Today: Why is ETH Up 0.25% Today and Trades at $1,582?
As of April 22, Ethereum price is up 0.25% after recovering from a 2.76% retracement from its open price. ETH price today trades at $1,582, and the ongoing recovery could come undone if Bitcoin (BTC) drops. Concerns of a leverage-driven pump on BTC and Ethereum Foundation selling ETH could cause the second-largest cryptocurrency to drop.
Ethereum Technical Analysis: What’s Next for ETH Price?
Overall, the daily chart shows a string of lower highs and lower lows for Ethereum price, signaling a downtrend. Despite this downtrend, there might be volatile move that could undo the downtrend due to sideways movement of Ethereum for the 10th consecutive day.
This range tightening indicates compressed volatility, a breakout from which could catlayze a massive move. With $1,504 acting as a key support level, the chances of a sustained move to the upside is high. However, the Ethereum price prediction needs to remain neutral due to the uncertain macro and geopolitical conditions.
Ethereum Foundations sale could result in a steep correction that revisits $1,504 support level. But a breakdown of this key support could result in a correction to $1,200 or lower. This bearish outlook will be in full swing if Bitcoin price undoes rally to $88K, which many consider to be leverage-driven pump.
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Frequently Asked Questions (FAQs)
1. Why did the Ethereum Foundation transfer 1,000 ETH to Kraken?
2. How does the Ethereum Foundation's sales impact ETH price?
3. What's the current Ethereum price trend?
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