$ETHthe native cryptocurrency of smart contract giant Ethereum, fell 0.4% during Friday U.S. market hours, trading at $2,320. The rebound gained initial momentum from a cautious consolidation trend in the broader crypto market as Bitcoin stalled around $78,000. However, market observers are focused on the recent sale of 10,000 units. $ETH from the Ethereum Foundation as the trigger for today’s decline. Here’s how this move could potentially impact you $ETH Price in the long run.
Ethereum Foundation sells 10,000 pieces $ETH $2,387 in OTC trade with BitMine
On Friday, April 24th, the Ethereum Foundation completed 10,000 over-the-counter (OTC) transactions. $ETH The average price for financial management company BitMine Immersion Technologies is $2,387.
This is the second sale to the same company in just over a month, following a March 15 sale for $2,043 each. $ETH. Following a financial plan to spend 15% of its holdings each year, the Foundation uses its funds to fund important development, research, and community programs.
However, these sales often invite public scorn, and if the Foundation so desires; $ETH It won’t sell because it’s “undervalued.” EF refutes this argument with massive staking operations of +70,000 $ETH This shows their long-term investment intentions.
It also relies on over-the-counter trading rather than exchanges, so it has much less exposure to short-term price fluctuations.
Additionally, these activities actively fund large-scale upgrades such as the recent Denkun and Prague upgrades, keep the network competitive against alternatives such as Solana, and drive fundamental demand.
$ETH Price May Reject $2,400 Wall Amid Bear Flag Formation
After major revisions in January 2026; $ETH Price entered a short-term recovery trend within the two uptrend lines of a reverse flag pattern. Chart setups are often seen in established downtrends, as a temporary rally allows sellers to regain depleted bearish momentum.
Ethereum currently trading at $2,318 $ETH-0.33% Prices are facing supply pressure from the $2,400 flag resistance. If geopolitical uncertainty continues to put pressure on the overall crypto market, the coin price could fall by 8.6% to retest the support trend line of this pattern.
A bearish breakdown below this support could further accelerate the selling pressure on Ethereum coin and extend the correction trend by another 16% to reach $1,750. The downslope of the 100-day and 200-day EMAs strengthens the bearish view and suggests that the path to least resistance is descending.
vice versa, $ETH If the price rises above the flag resistance, buyers could gain more control over the asset and invalidate the prevailing bearish theory.
