Ethereum's Price Hovers Around $3,100 Amid Strategic Sales and Potential Breakout

Ethereum's price hovers around $3,100 as the Ethereum Foundation continues strategic ETH sales, with a total of 300 ETH sold in 2025, valued at approximately $981,200. Despite these sales, the Foundation still holds over 269,000 ETH, worth more than $800 million. Technical analysts have identified a flag and pole pattern, suggesting a potential breakout with targets at $3,600 and potentially $4,000. Historically, February and March have been favorable months for Ethereum, with only one negative return in February 2018 following a 50% surge in January. Multiple analysts predict a potential rally, citing technical patterns and fundamentals like the upcoming Pectra upgrade.

Ethereum's price faces a critical test as it trades around $3,130, with a 6% decrease over 24 hours. Technical indicators suggest a deepening downtrend, with a recent death cross in ETH's exponential moving averages and increased bearish momentum. The Average Directional Index (ADX) has risen significantly, indicating a stronger downtrend, while the Directional Movement Index (DMI) shows an imbalance in favor of bearish pressure. Despite these bearish signals, whale wallets are showing signs of recovery, with the number of wallets holding substantial ETH growing close to its peak earlier in the year. The market's next moves will depend on whether Ethereum can hold its key support or if sellers push prices further down, creating a complex dynamic that traders are watching closely.