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. Vitalik Buterin’s ETH balance history | Source: Arkham 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. Ethereum price analysis | Source: Crypto.News 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.
