Ethereum Foundation Transfers $2.51 Million in ETH Amid Technical Pattern Concerns

• The Ethereum Foundation moved another $2.51 million worth of ETH and has sold $52.82 million since April. 

• ETH faces a critical test at $2,700 resistance with a rising wedge pattern that could lead to a breakout or a drop to $2,200. 

• Strong trading volume and $15.9 billion in open interest show healthy market activity despite technical risks.

The Ethereum Foundation has executed another significant transfer of its cryptocurrency holdings, moving nearly 1,000 ETH worth approximately $2.51 million from its institutional wallets. This latest transaction marks the 21st such outflow recorded since April, according to blockchain analytics firm CryptoQuant.

The Foundation’s recent activity represents part of a broader pattern of strategic asset management. Since April, the organization has moved $52.82 million worth of ETH through these transactions. Despite this sustained selling pressure, the Foundation maintains a substantial treasury of 196,770 ETH, valued at nearly $495 million at current market prices.

Traders closely monitor these movements for potential signals about institutional strategy and their broader implications for Ethereum’s price trajectory. The Foundation’s transactions often attract scrutiny from traders and analysts who view them as potential indicators of market sentiment and future price direction.

Technical Analysis Points to Critical Resistance Level

Ethereum trades at $2,545.22, positioning itself near a crucial technical juncture. Technical analyst Carl Moon has identified a rising wedge pattern on ETH’s price chart, which typically precedes bearish reversals in cryptocurrency markets.

The wedge pattern has pushed Ethereum to test a critical resistance level at $2,700. A failure to break through this ceiling with substantial trading volume could confirm the bearish setup and potentially trigger a sharp price decline. Technical projections suggest a downside target as low as $2,200 if the pattern is as expected.

However, a decisive breakout above $2,700 would invalidate the wedge formation entirely. Such a move could reignite bullish momentum and open pathways to higher price levels. Market participants are now watching for clear volume surges indicating whether ETH will break out or break down from its current position.

Strong Market Activity Despite Technical Risks

Ethereum has demonstrated robust market performance despite the technical concerns. The cryptocurrency has gained 2.60% in the past 24 hours and posted a 7-day increase of 4.45%. Trading volume remains healthy, with over $10.2 billion in ETH exchanged during the last 24-hour period.

The derivatives market reflects growing institutional and retail interest in Ethereum. Total open interest has climbed to $15.9 billion, with perpetual contracts accounting for $15.6 billion. This represents an increase of over 4.65% in just one day, signaling heightened trader activity and market expectations.

Binance leads the exchanges in ETH open interest with $6.1 billion, followed by Bybit, Huobi, and OKX. This distribution across major trading platforms indicates broad-based interest in Ethereum’s price movements among different market segments.

Looking toward the end of 2025, Coincodex analysts have published optimistic projections for Ethereum’s price potential. Their forecasts suggest ETH could trade between $3,222 and $4,048 by December 2025, with an expected average price near $3,477. These projections imply potential returns of approximately 57% for investors entering at current levels.