{"id":4439,"date":"2023-05-07T18:05:43","date_gmt":"2023-05-07T22:05:43","guid":{"rendered":"http:\/\/leadingcryptonews.com\/the-ethereum-foundation-just-sold-30m-in-ether-but-will-eth-price-fall-this-time\/"},"modified":"2023-05-07T18:05:43","modified_gmt":"2023-05-07T22:05:43","slug":"the-ethereum-foundation-just-sold-30m-in-ether-but-will-eth-price-fall-this-time","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/the-ethereum-foundation-just-sold-30m-in-ether-but-will-eth-price-fall-this-time\/","title":{"rendered":"The Ethereum Foundation just sold $30M in Ether \u2014 But will ETH price fall this time?"},"content":{"rendered":"


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On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. <\/p>\n

ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend.<\/p>\n

ETH price holding key support<\/h2>\n

Ether's price recovered modestly to $1,920 on May 7 after testing its 50-day exponential moving average (50-day EMA; the red wave) near $1,850 as support a day ago.<\/p>\n