$ETH ANALYSIS AND PREDICTIONS
1. Ethereum Foundation Sells 200 ETH
- The Ethereum Foundation sold 200 ETH on Monday, raising concerns among investors.
2. Total September Selloff
- This brings the total ETH sold by the foundation in September to 1,150 ETH, worth $2.8 million.
3. Investor Concerns Over Outflows
- ETH outflows have surged, fueling bearish market sentiment despite recent macroeconomic events.
4. Weekly and Monthly Outflows
- Ethereum recorded $28.5 million in weekly outflows and $145.7 million month-to-date.
5. Institutional Bearish Sentiment
- Institutions remain bearish on ETH, even as Bitcoin saw $284 million in weekly inflows.
6. ETH Price Defies Bearish Sentiment
- Despite the selloff, ETH price rose 2%, trading at $2,635 at the time of writing.
7. Derivatives Market Data
- ETH futures open interest increased 0.69%, with a 77.12% surge in derivatives volume.
8. Key Resistance Level at $2,800
- Ethereum faces strong selling pressure at the $2,800 mark, presenting a significant hurdle for upward movement.
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