Signals of ETH Breakthrough!!! The Game Between Bullish Trends and Institutional Selling Pressure Z
Today, the Ethereum Foundation sold 100 ETH at a price of 374,334 DAI. This transaction once again highlights the increasing demand for stablecoins from institutions. Since 2024, the foundation has achieved approximately $12.21 million in fund transfers through 4,366 ETH sales, with an average selling price of $2,796, further consolidating the important position of DAI in its financial reserves.
The Foundation's Strategy and Its Subtle Connection to Market Volatility
This round of selling occurs on the eve of a 5% decline in Ethereum prices, with the timing sparking widespread attention in the market. This phenomenon not only raises questions about whether there is a potential correlation between institutional actions and price fluctuations but also makes the market more sensitive to the future trend of Ethereum.
Ethereum recently broke through the upper boundary of a multi-year triangular flag in its technical pattern, subsequently confirming the breakout level, paving the way for a bullish trend. The current price is $3,692.98, and this position has become a key node for market trends throughout 2024.
Chart analysis indicates that the post-breakout pullback further consolidates its support level, with market sentiment gradually shifting from cautious to optimistic. Technical analysts expect this bullish pattern may continue into 2025, driving Ethereum into a new long-term upward trend.
Short-term Volatility and Long-term Potential Coexist
Although Ethereum's price may experience wild fluctuations in the short term due to institutional selling and market sentiment shifts, from a broader macro perspective, its technical support and widespread mainstream adoption trend provide a solid foundation for long-term growth. Whether it's the continued expansion of DeFi or the deep penetration of blockchain technology in finance and other fields, Ethereum remains the core of the ecosystem.
This is a crucial moment to observe market dynamics and capture trends. After all, Ethereum on the rise won’t easily “turn off”! Want to catch every wave of dynamics in the crypto market? Remember to follow the master, and witness the surge of the bull market together!
