Ethereum Foundation: Sells 10K ETH to Bitmine

The Ethereum Foundation just dumped another 10,000 ETH through an OTC deal to repeat buyer Bitmine at $2292.15 per token, pushing their total sales since March 15 to 30,000 ETH valued at over $68.92 million. This latest transfer wrapped up seven hours ago, maintaining transparency but stirring unease among holders as the foundation continues liquidating holdings—echoing patterns from the past year where Bitmine has emerged as a key player in bolstering the Ethereum ecosystem through strategic treasury plays. With ETH price prediction debates heating up, this move arrives amid broader crypto market volatility, potentially influencing sentiment around Bitcoin (BTC) and emerging tokens like TAO.

Zooming into the 4-hour chart, ETH trades at $2298.95 in a clear bullish structure, hugging the EMA50 at $2298.74 as immediate support while the EMA200 at $2253.58 anchors the longer-term floor—confluence here screams resilience against downside pressure. Momentum stays neutral with RSI at 52.67, but the MACD's golden cross at -1.99 signals building upside conviction; price action inside the Bollinger Bands, testing toward the upper resistance at $2333.82, suggests volatility could exhaust soon, setting up a probe higher if support holds, though a dip to the lower band at $2230.01 remains in play for any profit-taking amid these foundation sales impacting crypto market crash fears.