Vitalik Buterin Sells 10K+ ETH as Ethereum Slides Near $1,800

Key Sale Details

Generally, I saw Vitalik off-load more than 10,723 ETH, about $21.7 million, since early February. Normally, this kind of sale would not go unnoticed. Obviously, the biggest chunk dropped in three days before Feb 24, with 3,765 ETH worth $7.08 million hitting the market. Usually, a sale of this size would have significant market implications.
Apparently, that’s roughly 65 percent of his original 16,384 ETH stash, leaving maybe 6,000 ETH still in his wallet.

Market Impact

Currently, the sell-off lines up with ETH sliding toward the $1,825 support zone. Naturally, Ethereum’s price shed about 38 percent in the past month, dropping from $2,000 to the low-$1,800 range. Evidently, traders notice founder-level liquidations are rare, and this flood adds palpable sell pressure.
Certainly, the market is reacting to this news, and it will be interesting to see how it plays out.

Technical Outlook

Chart Patterns

Obviously, the daily chart shows a clear bear-flag breakdown, RSI hovering near oversold, MACD still lacking a bullish crossover. Generally, this kind of chart pattern indicates a downtrend. Normally, the 50-day EMA crossed below the 200-day EMA, forming a classic “death cross” that usually signals a downtrend.
Apparently, this is not a good sign for Ethereum.

Price Targets

Currently, ETH is testing the $1,800 support band right now. Usually, if it closes below that level, the path to $1,500 opens up fast. Naturally, a strong bounce would need a break above $2,150 on high volume to reset confidence.
Evidently, the market is waiting to see what happens next.

Potential Scenarios

Generally, traders watch the $1,780-$1,820 window like hawks. Obviously, a double-bottom rebound could give temporary relief, but any slip below could speed the descent toward $1,475.
Apparently, I think the added supply pressure may push ETH deeper into bearish territory before a recovery can be mounted.

Conclusion

Naturally, Vitalik’s massive ETH liquidation, paired with weakening market structure, paints a cautionary picture for Ethereum. Currently, while his intent to fund open-source and security projects is commendable, the market may test the $1,500 support level soon.
Generally, it will be interesting to see how the market reacts to this news.