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ETH Price Shows Strength in Face of $10 Million Sale

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Even though Ethereum’s (ETH) price has not produced the gains that holders would hope for, recent data shows that investors holding the altcoin have remained resilient and optimistic. This could be surprising, especially as the Ethereum Foundation, which has been at the helm of selling ETH, has liquidated some assets again.

While the sale initially sparked valid concerns, this analysis explains why holders are unfazed by the development.

Another Sale Leaves Ethereum Holders Unfazed

Earlier today, the Ethereum Foundation sold 100 ETH for $262,474. This sell-off is just a little part of the coins the foundation has let go over the last few months. According to Spot On Chain, the total number of ETH sold this year has reached 3,766.

With an average price of $2,777, 1,250 ETH were sold in September, valued at $3.06 million. In total, the foundation sold 3,766 ETH in 2024, with the total value reaching $10.46 million. 

This consistent selling trend could indicate strategic profit-taking or cover operational costs, but it may also impact Ethereum’s market supply and price moving forward.

Ethereum Foundation Transactions
Ethereum Foundation Transactions. Source: Spot On Chain

However, according to the Net Unrealized Profit/Loss (NUPL), ETH holders appear optimistic about the coin’s potential. Based on Glassnode’s data, NUPL is the sentiment investors have about a cryptocurrency. 

This perception ranges from capitulation (red), hope (orange), optimism (yellow), belief (green), and euphoria (blue). As seen below, ETH holders are in the optimistic region, indicating confidence in a higher price for the cryptocurrency.

Read more: How to Buy Ethereum (ETH) and Everything You Need to Know

Ethereum holders are optimistic about the price
Ethereum NUPL. Source: Glassnode

Beyond that, the Historical In/Out of Money shows that the ratio of holders in profit has risen from 60% on September 16 to 64.37% today. The HIOM, as it is commonly called, shows the level of unrealized gains or losses in the market.

If the level of unrealized losses increases, it derails investors’ confidence. However, since unrealized profits have risen recently, more investors might be encouraged to buy ETH, and this could drive the price higher. 

Ethereum Historical Break Even Price
Ethereum Historical In/Out of Money. Source: IntoTheBlock

ETH Price Prediction: Ready to Break $3,000

A look at Ethereum’s weekly chart revealed that the Commodity Channel Index (CCI) had increased. The CCI is a technical indicator that measures the difference between the current price and the historical average value. 

When it increases, the asset’s price has a good chance of moving upward. A decrease in the CCI, on the other hand, indicates weakness. With the altcoins price at $2,632, a further rise in the CCI could bring about ETH’s run toward $3,255.

Read more: 9 Best Places To Stake Ethereum in 2024

Ethereum price prediction after Foundation sale
Ethereum Daily Price Analysis. Source: TradingView

However, if the indicator fails to rise above the signal line at the midpoint, Ethereum could drop.  In that scenario, the coin’s value might decline to $2,301.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Rallies 10% and Targets More Upside

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Este artículo también está disponible en español.

Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.

  • Ethereum started a fresh increase above the $3,220 and $3,300 levels.
  • The price is trading above $3,250 and the 100-hourly Simple Moving Average.
  • There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if it clears the $3,385 resistance zone.

Ethereum Price Regains Traction

Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.

The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.

Ethereum Price
Source: ETHUSD on TradingView.com

The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,385



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Rallies 10% and Targets More Upside

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Este artículo también está disponible en español.

Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.

  • Ethereum started a fresh increase above the $3,220 and $3,300 levels.
  • The price is trading above $3,250 and the 100-hourly Simple Moving Average.
  • There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum if it clears the $3,385 resistance zone.

Ethereum Price Regains Traction

Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.

The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.

Ethereum Price
Source: ETHUSD on TradingView.com

The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,385



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GOAT Price Sees Slower Growth After Reaching $1B Market Cap

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GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.

However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.

GOAT BBTrend Is Negative For The First Time In 4 Days

GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.

BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.

GOAT BBTrend.
GOAT BBTrend. Source: TradingView

GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.

However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.

GOAT Is In A Neutral Zone

GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.

The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.

GOAT RSI.
GOAT RSI. Source: TradingView

RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.

This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.

GOAT Price Prediction: A New Surge Until $1.50?

If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.

Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.

GOAT Price Analysis.
GOAT Price Analysis. Source: TradingView

However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.

Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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