Ethereum Foundation completes large ETH sale: Can ETH avoid further declines?

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Ethereum slides 5.87% to $1,793 today

Ethereum (ETH) is trading at $1,793.24 following a daily decline of 5.87%. The asset currently sits below its key moving averages, reflecting continued downward momentum.

Highlights

The Ethereum Foundation sold 7,500 ETH for about $14.52 million over four days, expanding immediate token supply.
A further 1,000 ETH was swapped for $1.9 million USDS and another 5,000 ETH was sold, with recent ETF net inflows of $2.3 million led by Fidelity FETH but offset by Grayscale outflows.
ETH trades below key moving averages with most indicators showing downside momentum, likely remaining within the $1,696 to $1,889 range over the next few days.

Liquidity pressure from Foundation sales as ETF flows diverge

The Ethereum Foundation sold a total of 7,500 ETH over the past four days via the CoWSwap platform, raising approximately $14.52 million and increasing immediate token supply on the market, according to Tokenpost. Chaincatcher reported the Foundation further exchanged 1,000 ETH for about $1.9 million USDS and sold an additional 5,000 ETH in recent days, actions that suggest strategic portfolio adjustments and contribute to liquidity pressure. Meanwhile, November 13 ETF flow data from Chaincatcher showed $2.3 million in net inflows to Ethereum spot ETFs, led by Fidelity FETH, though this was partially offset by outflows from Grayscale’s ETH product, signaling mixed fund sentiment.

Technical resistance and mixed momentum amid intraday volatility

ETH/USD is trading below the MA-20 level at $1,822 and the MA-50 at $1,886 on the hourly chart, while also remaining under the daily MA-200 at $2,146. Immediate resistance is at the Ichimoku Kijun level of $1,815, with short-term support visible near $1,696. On the indicator side, MACD signals a strong sell alongside a bearish reading from ADX, while RSI registers neutral at 44.08. The Stoch RSI stands in the overbought zone at 93.36, CCI reads neutral at -21.07, Bull/Bear Power is slightly positive at 8.77, and the Awesome Oscillator remains neutral, highlighting mixed momentum signals against a backdrop of high intraday volatility.

Downside risks dominate with rebound unlikely under resistance

Over the next two to three trading days, ETH is likely to stay within a $1,696 to $1,889 volatility band relative to current levels. The probability of a rebound remains very low, with significant downside risk dominating the scenario outlook. A bullish move would require a sustained breakout above resistance at $1,815, potentially targeting higher levels, while a close below $1,696 opens the way for further declines in the near term.

Previously it was reported that Ethereum faced ongoing downside risk driven by institutional ETF outflows and persistent technical weakness. The latest data on Foundation sales and continued inability to reclaim key moving averages further reinforce the bearish outlook, making a close below $1,696 the critical downside risk to monitor in the near term.