ETHUSD Today, February 23: Vitalik Sells as ETH Hits 20-Day Low
The ethereum price slipped to a 20-day low near $1,844 today as founder sales met weak momentum. At the time of writing, ETHUSD trades at $1,918.79, down 1.51% on the day and 32.86% over one month. Vitalik Buterin sold 1,869 ETH over two days after a 3,500 ETH Aave withdrawal, adding pressure. On-chain data from Santiment signals oversold conditions. With RSI near 31 and ADX at 47, the downtrend remains firm. For US traders, elevated intraday swings and weekend liquidity gaps keep risk high.
Founder sales meet oversold signals
Vitalik Buterin accelerated selling, moving 1,869 ETH in two days after a 3,500 ETH Aave withdrawal, with sales valued near $7 million per reports. Founder activity often weighs on sentiment even if the amounts are small relative to supply. The latest moves arrived as the ethereum price fell sharply this month, compounding pressure on spot demand source.
Santiment flagged ETH as oversold on MVRV, hinting at a possible mean‑reversion bounce. Still, the technical backdrop is weak. RSI sits at 31.56, near classic oversold, while ADX at 47.16 points to a strong downtrend. That mix sets a tug‑of‑war between dip buyers and momentum sellers source.
The ethereum price is $1,918.79 after hitting an intraday low of $1,844.19 and a high of $1,958.13. It is down 1.51% today and 32.86% over one month. Price sits well below the 50‑day average at $2,683.73 and the 200‑day at $3,514.14, reinforcing a bearish trend until these levels are reclaimed.
Key levels US traders are watching
Immediate support is the $1,844.19 session low, with the Keltner lower band near $1,916.93 marking a nearby pivot. If selling deepens, the Bollinger lower band around $1,464.64 and the 1‑year low at $1,383.26 sit below. Bulls want the ethereum price to hold above $1,844 to avoid opening that wider downside zone.
First resistance is the $1,958.13 intraday high, followed by the $2,000 round number. Above that, the Bollinger middle band at $2,249.90 is the next test, then the 50‑day average at $2,683.73. Sustained closes back over $2,250 would signal improving momentum for the ethereum price, while failure keeps rallies vulnerable.
ATR at 156.18 points to wide daily ranges, so position sizing matters. MACD’s small positive histogram at 2.88 suggests fading downside momentum, but the lines are still negative. Stochastic %K at 29.25 reflects weak momentum. Traders should expect whipsaws near key levels and set stops outside noise bands.
What Vitalik’s selling could mean for the ethereum price
The sale size is small versus a circulating supply of about 120,694,786 ETH and a market cap near $237.58 billion. The impact is more about psychology. Headlines like “Ethereum founder selling” can dent confidence, even if flow effects are modest. For now, it adds to caution while the ethereum price struggles below key averages.
We will watch MVRV, exchange inflows, and staking flows for clues on pressure or relief. Rising exchange balances can warn of more supply. Falling balances and improving activity could aid a bounce. Funding, open interest, and liquidity pockets around $1,850 to $2,000 will guide short‑term behavior of the ethereum price.
If bulls reclaim $2,000 and the $2,249.90 mid‑band, a push toward the quarterly model forecast near $2,731.37 is possible. Failure to hold $1,844 risks a retest of the monthly model near $1,370.11. Longer term, a base could target the yearly model around $2,960.01. These are probabilistic, not guarantees.
Final Thoughts
Founder selling met fragile technicals as the ethereum price tagged a 20‑day low and momentum stayed weak. Near term, $1,844 is the line to defend, with $1,958 and $2,000 as early hurdles. ATR signals choppy ranges, so position size and tight risk rules matter. We prefer trades that wait for confirmation above $2,000 and especially $2,250 for momentum exposure. For investors, staged entries or patience until the 50‑day average at $2,683.73 is reclaimed can reduce downside risk. Watch on‑chain flows and MVRV for signs of repair. Remember, model forecasts are guides, not promises. Stay disciplined, use stops, and avoid over‑levering into volatility.
FAQs
How much ETH did Vitalik Buterin sell, and does it matter?
Reports indicate he sold 1,869 ETH over two days after a 3,500 ETH Aave withdrawal, worth about $7 million at the time. The size is small versus total supply, but it can weigh on sentiment. The main effect is psychological rather than a lasting supply shock.
Is the ethereum price oversold right now?
Several gauges suggest it is near oversold. RSI is 31.56, close to the 30 level many traders watch. Santiment’s MVRV also flagged oversold conditions. Still, ADX at 47.16 shows a strong trend, so oversold can persist. Confirmation is key before betting on a bounce.
What are the key ethereum price levels to watch today?
Support sits near $1,844.19. Resistance is $1,958.13, then $2,000, and the Bollinger middle band at $2,249.90. Above that, the 50‑day average at $2,683.73 is a pivotal trend gauge. A daily close over $2,250 would improve momentum, while losing $1,844 risks deeper downside.
Should US investors buy the dip in ETH now?
This depends on risk tolerance and time horizon. Traders may wait for a close back above $2,000 to reduce false starts. Investors could use staged buys, or wait for a move over the 50‑day average at $2,683.73. Keep position sizes modest and use clear stop‑loss rules.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.