Ethereum price prediction as Vitalik Buterin sold 17,000 ETH in February
Ethereum’s price is facing a period of increased scrutiny as on-chain data reveals significant selling pressure from its founder, Vitalik Buterin.
Summary
- On-chain data from Arkham Intelligence revealed that Vitalik Buterin’s associated wallets saw a sharp drop from 241,000 ETH to 224,000 ETH in February.
- Trading is done through the CoW Protocol using small, static swaps to minimize market impact.
- Ethereum is currently struggling to maintain the $1,900 level; while the RSI suggests it is in oversold territory, the price remains below its 50-day SMA ($2,538), with major support now sitting at $1,800.
According to data from Arkham Intelligence, wallets associated with Buterin have been remarkably active during February, loading around 17,000 ETH. These transactions have raised concerns about market sentiment among long-term holders.
Vitalik Buterin’s wallets saw their holdings drop from around 241,000 ETH in early February to 224,000 ETH following a consistent series of monthly withdrawals.
The massive volume of 17,000 ETH entering the liquid market has created a frenzy among traders.
Although Buterin has been selling portions of his assets for charitable donations or to support ecosystem development, the timing of these sales, which occurred during a broader market consolidation, has strengthened the focus on Ethereum’s short-term price stability.
Ethereum price analysis: Bulls struggle to hold $1,900
Looking at the daily ETH/USDT chart, Ethereum (ETH) is currently hovering in a risky recovery phase. After a sharp decline from the $3,400 level at the beginning of the year, the price found a temporary foothold near the psychological support area of $1,800.
As of February 25th, ETH is trading around $1,915, marking a modest gain of 3.45%.
The price action remains dominated by a bearish trend, as evidenced by the 50-day Simple Moving Average (SMA), which sits above the current price at $2,538. This indicates that medium-term momentum is firmly in the hands of the bears.
Immediate resistance is found in the $2,000–$2,100 range, where the price stopped earlier. A breakup beyond this level is necessary to move the matter toward recovery.
Conversely, the RSI offers a glimmer of hope. Currently at 35.54, the RSI is recovering from “oversold” conditions. A bullish divergence formed in the RSI suggests that bearish momentum is worrying, which may lead to a rally in support.
If $1,850 fails to hold as support, the next major downside is at horizontal support at $1,700. For now, Ethereum remains in a “wait and see” position, caught between Buterin’s selling pressure and technical oversold signals.
