ETH price up 10% in April, so why is Ethereum Foundation selling?

💡 DMK Insight

ETH’s bearish reversal pattern is a red flag for traders right now. With ETH currently at $2,317.96, a potential drop of 15% could see it testing critical support levels around $1,965. This bearish sentiment aligns with broader market trends, where many altcoins are also showing weakness. If ETH breaks below this support, it could trigger further selling pressure, not just in ETH but across the crypto market, impacting related assets like BTC and major DeFi tokens. Traders should keep an eye on volume indicators; a spike in selling volume could confirm the bearish trend. On the flip side, if ETH manages to hold above $2,200, it might attract some dip-buyers looking for a rebound. But right now, the momentum is clearly leaning bearish, and traders should be cautious about entering long positions until we see a clear reversal signal. Watch for the next few daily closes to gauge market sentiment.