Ethereum Price Clings to $2,168 as Foundation Leads a 3-Front Selloff

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<a href="https://jpyxx.com/eth-usd/">Ethereum</a> Price Clings to $2,168 as Foundation Leads a 3-Front Selloff

On April 9th, Ethereum (ETH) was trading at $2,181. The price is only slightly above a key support level, and is being affected by selling pressure from multiple sources.

Ethereum is facing a mixed situation in April. While major players like the Ethereum Foundation, ETF investors, and large cryptocurrency holders are all selling some of their Ethereum, technical indicators suggest a potential price increase. Specifically, two important moving averages are getting closer to a point where they typically signal positive momentum. This creates a conflicting outlook for Ethereum’s price.

Symmetrical Triangle Tightens as Two EMAs Close In

Since late February, Ethereum’s price has been moving within a symmetrical triangle pattern on its daily chart. This pattern is formed by a series of decreasing highs and increasing lows, which is causing the price range to narrow over time.

As a crypto investor, I’ve been watching Ethereum closely, and the recent attempt to break above the established upward trendline failed. Sellers really stepped in and pushed the price back down towards the middle of the triangle pattern we’ve been seeing. This is significant because it suggests the triangle pattern is still valid, and we haven’t seen a breakout yet – meaning the price hasn’t definitively moved in either direction.

The 20-day Exponential Moving Average, which highlights recent price changes, is currently at $2,114, lower than the 50-day EMA at $2,151. However, the difference between these two averages is getting smaller. If the 20-day EMA rises above the 50-day EMA, it could signal a positive shift in short-term price trends – a pattern known as a ‘golden cross’.

With selling increasing from multiple sources, there’s a chance the 20-day moving average will stall and turn downwards. This would mean a failed attempt to move higher, and would strengthen the existing downward trend.

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If Ethereum fails to break above a key resistance level within a narrowing price range, it’s likely to fall lower. However, the current price drop isn’t simply due to technical factors; there are deeper, more fundamental reasons driving the selling pressure.

Foundation, ETFs, and Whales All Reduce Exposure at Once

The sell pressure is arriving from three separate fronts simultaneously.

The Ethereum Foundation plans to exchange 5,000 ETH for stablecoins using CoWSwap’s TWAP function. This will provide funding for research and development, grants, and charitable donations.

As a crypto investor, I just saw that the Ethereum Foundation is swapping 5,000 ETH for stablecoins. They’re using a feature from CoW DAO to do this, and plan to use the funds for research and development, grants, and charitable donations. Interestingly, Ethereum’s price is currently around $2,197, and it’s actually up about 6.4% in the last day, which is a positive sign!

— Wu Blockchain (@WuBlockchain) April 8, 2026

Data from Lookonchain shows that $8.3 million worth of ETH (3,750 units) has already been sold, averaging $2,214 per unit. An additional $2.77 million worth of ETH (1,250 units) is still planned for sale. While the Foundation described this as normal financial management, the market generally interprets large ETH sales by the project’s creators as a negative sign, regardless of the Foundation’s explanation.

The Ethereum Foundation continues to sell Ethereum (ETH), recently selling 3,750 ETH for a total of $8.3 million at an average price of $2,214. They still have 1,250 ETH worth approximately $2.77 million remaining to sell.

— Lookonchain (@lookonchain) April 9, 2026

The flow of money into and out of Ethereum ETFs changed quickly. On April 6th, these ETFs saw a large influx of 38,769 ETH. However, the very next day, April 7th, they experienced an outflow of 24,311 ETH, effectively wiping out most of the previous day’s gains from institutional investors.

Whale behavior adds the third layer.

Data from Santiment shows that large Ethereum holders (known as whales) held a peak of about 123 million ETH off of exchanges around April 8th. Since then, their holdings have decreased slightly to 122.93 million ETH, which is currently worth around $153 million. While this decrease isn’t huge, it’s notable because it happened around the same time the Ethereum Foundation began selling ETH and inflows into Ethereum ETFs slowed down.

When three major types of Ethereum investors – foundations, ETF holders, and large-volume traders (often called ‘whales’) – all sell off their holdings around the same time, it creates a surplus of ETH available on the market. This increased supply is so significant that typical chart patterns can’t accurately predict how the price will react. Now, the ETH price chart will show us how much selling pressure the market can actually withstand.

Ethereum Price Sits 0.5% Above the Level That Changes Everything

Ethereum is currently trading at $2,181, only slightly above a key support level of $2,168. This $2,168 level is particularly important. If the price falls below $2,168 at the end of the day, it would suggest that sellers are dominating and could push the price lower within its current trading range.

If the price falls below $2,168, potential support levels can be found at $2,102 and $2,049. A further drop below $1,995 could lead to a test of the lower trendline around $1,823, potentially causing a significant price decrease.

Ethereum’s price briefly fell to $2,168 but then recovered, indicating buyers are paying attention to that price level. However, this recovery might not last. The potential for a key technical signal (the EMA golden cross) hasn’t been confirmed yet, and the Ethereum Foundation still has a significant amount of ETH to sell. Adding to these concerns, the overall cryptocurrency market is currently weak.

As a researcher tracking Ethereum, I’m watching to see if it can regain strength. To do that, the price needs to hold above $2,168 and ideally move back towards $2,274. This would bring the price closer to a key trendline and potentially confirm a bullish signal. However, I’m seeing significant selling pressure from multiple groups, and there’s currently no clear sign of new buying interest, which suggests the path to higher prices will be challenging.

The price is currently at a critical point. If it stays above $2,168, it could rise back to $2,274. However, if it falls below $2,168, it risks a steeper decline towards $2,102 or even lower.

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2026-04-09 11:19