Ethereum has experienced a significant decline in price, dropping to $2,127 amidst market weakness and high volatility. Vitalik Buterin, the co-founder of Ethereum, has sold $6.6 million worth of ETH as part of planned funding moves. The key support levels to watch are at $2,007, with resistance targets at $2,133 and $2,274.
The price of ETH is currently at $2,098.91, marking a 5.6% decrease in the last 24 hours. This downward trend is part of a broader decline, with Ethereum losing approximately 28% over the past week and nearly 34% over the last three months. Despite the falling prices, trading volume remains high at $54.5 billion in the last 24 hours, indicating strong market activity.
Recent reports have highlighted Vitalik Buterin’s sale of millions in ETH, with wallets linked to him moving 2,961.5 ETH, valued at approximately $6.6 million. These transactions have garnered attention due to their timing amidst the Ethereum downturn. Additionally, a separate $29 million ETH transfer has been noted, part of a strategic reallocation by Buterin to support his Kanro charity.
Despite concerns in the market, analysts suggest that these transactions are likely planned funding moves and not indicators of panic selling. However, the market has interpreted these large movements as bearish signals.
Ethereum Price Analysis
ETH has been facing pressure due to broader weakness in the crypto market. The 24-hour price range for Ethereum is currently between $2,077.42 and $2,258.21, reflecting volatility and uncertainty. Ethereum’s market capitalization stands at $257 billion, with a circulating supply of 120.6 million ETH. The cryptocurrency is still down 57% from its all-time high in August 2025.
Despite the decline, Ethereum remains a significant player in the crypto ecosystem, with investors closely monitoring large wallet movements.
Ethereum Price Forecast
Traders are closely observing key levels for signals on market direction. The first support level to watch is at $2,007. If ETH fails to hold this level, it could potentially drop further to $1,800. On the upside, $2,133 is the initial resistance level, with potential targets at $2,274 and $2,396. Maintaining a price above the $2,007 support level is crucial for any potential recovery, as breaking below it could lead to increased selling pressure.
In conclusion, Ethereum is facing a challenging period influenced by founder wallet activity and broader market trends. Traders should pay close attention to support and resistance levels to guide their short-term strategies.
Be the first to comment