Ethereum Foundation Sells 100 ETH, Impact on Price Analyzed

• Ethereum Foundation’s recent ETH sale marks a strategic move amid market fluctuations.
• ETH’s key support levels at $3,191 and $3,284 indicate strong price stability zones.
• MACD and RSI signals suggest possible short-term bearish momentum for Ethereum.

The Ethereum Foundation sold 100 ETH, which attracted a lot of attention in the market. This is the first ETH sale that the foundation has made since it released its 2024 annual report on November 8.

As per Spotonchain data, the sale which occurred about 45 minutes prior to this analysis, involved the conversion of 100 ETH into 334,315.7 DAI, reflecting strategic asset management as the foundation navigates funding and market conditions.

Ethereum Foundation 2024 Asset Strategy

The Ethereum Foundation’s 2024 report revealed that, as of October 31, the organization had total reserve assets worth $970.2 million. Most of these assets are crypto assets, which are worth $788.7 million. ETH is 99.45% of this amount.

Related: Ethereum Transaction Volume Hits $60 Billion, Highest in 3 Months

The foundation sells ETH from time to time to keep enough reserves and to support public projects. Since the beg…

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