Ethereum Price May Slip Below $1.5K as Buterin Keeps Selling ETH
Ethereum's price is predicted to fall below $1,500 due to a bearish pattern and continued ETH sales by Vitalik Buterin.Summary
Ethereum's (ETH) price is facing downward pressure, potentially breaking the $1,500 support level. The asset has entered a bearish continuation pattern, with a breakdown targeting $1,475 by the end of February or early March. This decline coincides with Ethereum co-founder Vitalik Buterin's ongoing sales of ETH, approximately 9,000 ETH already sold and a potential liquidation of the remaining 7,350 ETH. Historical precedent suggests that founder-linked ETH supply can exacerbate bearish sentiment, as seen in previous price drops following Ethereum Foundation transfers. While a reclaim of the pennant’s lower trendline and a rally above the 20-day EMA could invalidate the bearish outlook, the current trend suggests a high probability of ETH reaching the $1,500 target.
(Source：Cointelegraph)