Ethereum price is facing a period of increased scrutiny as on-chain data reveals significant selling pressure originating from its co-founder, Vitalik Buterin.
Summary
- On-chain data from Arkham Intelligence reveals that Vitalik Buterin’s associated wallets saw a steady decline from 241,000 ETH to 224,000 ETH in February.
- The sales were executed through the CoW Protocol using small, staggered swaps to minimize market impact.
- Ethereum is currently battling to maintain the $1,900 level; while the RSI suggests it is in oversold territory, the price remains firmly 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 throughout February, offloading approximately 17,000 ETH. These transactions have sparked concerns regarding market sentiment among long-term holders.
Vitalik Buterin’s wallets saw their holdings decrease from approximately 241,000 ETH at the start of February to 224,000 ETH following a consistent series of monthly outflows.
The sheer volume of 17,000 ETH entering the liquid market has created a psychological headwind for traders.
While Buterin has historically sold portions of his holdings for charitable donations or to support ecosystem development, the timing of these sales, occurring amidst a broader market consolidation, has intensified the focus on Ethereum’s short-term price stability.
Ethereum price analysis: Bulls fight to hold $1,900
Looking at the daily ETH/USDT chart, Ethereum (ETH) is currently navigating a precarious recovery phase. After a sharp decline from the $3,400 level earlier in the year, the price found temporary footing near the $1,800 psychological support zone.
As of February 25, ETH is trading at approximately $1,915, marking a modest 3.45% intraday gain.
The price action remains dominated by a bearish trend, as evidenced by the 50-day Simple Moving Average (SMA), which sits far above the current price at $2,538. This indicates that the medium-term momentum is firmly in the hands of the bears.
Immediate resistance is located at the $2,000–$2,100 cluster, where the price previously stalled. A breakout above this level is required to shift the narrative toward a recovery.
Conversely, the RSI offers a glimmer of hope. Currently at 35.54, the RSI is recovering from “oversold” conditions. The bullish divergence forming on the RSI suggests that the downward momentum is exhausting, potentially leading to a relief rally.
If $1,850 fails to hold as support, the next major downside target lies at the $1,700 horizontal support. For now, Ethereum remains in a “wait-and-see” zone, caught between Buterin’s sell-side pressure and technical oversold signals.