Ethereum Foundation Dumps 35K ETH, ETH Price Plunges 12%, Recovery Ahead?

Quick Summary:

Ethereum price saw a strong selloff on August 27 in the late US session and was in line with broader crypto market corrections.

One key aspect that stood out for ETH investors is the August 23 transfer of 35,000 ETH from the Ethereum Foundation.

On the other hand, if Etheruem price fails to recover, it could crash another 11% before it encounters a key support level of $2,190.

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Article Details

Author / Journalist: Akash Girimath

Category: Crypto

Markets: India

Topics: Price Analysis Ethereum Price Analysis Ethereum Foundation ETH Ether ETH price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-28 @ 10:03:40 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 505 words

Reading Time: 3 minutes read

Sentences: 48 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22290348

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