- Ethereum is trading at $2,666.49, up 1.91% in 24 hours.
- Ethereum Foundation moved 50,000 ETH ($131.66M) to a DeFi wallet.
Ethereum (ETH) is currently priced at $2,666.49 which showing a 1.91% gain in the last 24 hours. Its market cap has also climbed to $321.4 billion, up by 1.92%. Still, trading activity has slowed down with the 24-hour volume dropping nearly 49% to $15.15 billion.
The Ethereum Foundation has moved 50,000 ETH (worth $131.66 million) to a multi-signature wallet for DeFi use. Instead of selling they’re looking to earn yield — a move that could ease sell pressure and boost Ethereum’s presence in the DeFi space.
ETH Key Technical Levels
Ethereum is testing resistance at $2,762 after a recovery from recent lows. A breakout above this level could push the price toward $2,800 and eventually $3,000. Even, rejection could send ETH back to $2,640, the key support level. If this support breaks, the next downside target is $2,500, with stronger demand expected in that range.
Technical indicators suggest mixed sentiment. The Relative Strength Index (RSI) at 40.18 shows ETH is approaching oversold territory but lacks strong buying momentum. The RSI moving average at 42.50 reflects weak demand.
If the RSI moves above 50 it could signal a return of strength. Even though the moving averages show a bearish crossover with the 9-day MA below the 21-day MA, pointing to short-term downside risk. Additionally, the negative Chaikin Money Flow (CMF) suggests capital outflows and limited buying pressure.
ETH’s near-term outlook hinges on breaking resistance or maintaining support levels. While the Ethereum Foundation’s 50,000 ETH transfer could help long term stability the price action remains vulnerable with Bitcoin’s movement likely influencing the next major shift.
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