Ethereum risks going under $1.5K as Vitalik Buterin sells ETH 'faster'

💡 DMK Insight

Ethereum’s co-founder holding over 7,000 ETH is a red flag for traders right now. With ETH currently at $1,914.62, this significant supply overhang could pressure prices downward, especially if he starts selling in larger quantities. Traders should be cautious, as this situation might trigger a wave of panic selling among retail investors, further exacerbating downward momentum. Keep an eye on the $1,850 support level; a break below that could lead to a more substantial decline. Conversely, if ETH manages to hold above this level, it might attract buyers looking for a bargain. But here’s the flip side: if the co-founder’s sales are gradual, it could limit immediate impact and allow for a more stable price action. Still, the uncertainty around his selling intentions could keep volatility high. Watch for any announcements or market reactions that could signal a shift in sentiment, particularly in the next few days as traders react to this news.