Ethereum Worth Evaluation: ETH Rejects $2,700 as Vitalik Buterin Donates $1M 7-Days to US Elections…

Whereas these current outflows look like directed towards charitable causes, they nonetheless add credence to the long-running narrative that ETH founders and insiders are inclined to liquidate holdings throughout rallies. This conduct has traditionally solid a shadow over Ethereum’s upward momentum.

Some analysts recommend that Buterin’s current gross sales might have contributed to slowing ETH’s ascent, probably stopping a decisive breakout above the $2,700 resistance degree.

In the meantime, Bitcoin value surge to new highs at $72,760, on Oct 30, additional emphasizing the narrative the insider-driven promote stress has impacted ETH rally.

ETH Worth Forecast: Bears Eyeing $2,550 Reversal

Ethereum’s current value motion reveals potential for a reversal because it nears the $2,700 resistance degree, but struggles to interrupt out amid constant promote stress.

The Bollinger Bands indicators spotlight an higher resistance at roughly $2,744.93, aligning with current rejections at this degree.

This degree has traditionally posed a problem, particularly with Ethereum’s momentum falling behind BTC.