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Ethereum Hits $2,430 April High Despite EF's 10K ETH Sale, Wedge Break Looms

Ethereum climbed 10% in April to around $2,430, shrugging off the Foundation's April 24 OTC sale of 10,000 ETH to BitMine at $2,387 average (~$23.9M), part of ~20,000 ETH sold YTD for $45M. BitMine ballooned holdings to ~5.08M ETH (~4.2% supply) while spot ETH ETFs drew $2B inflows since early April, offsetting sales. EF retains ~92,500 ETH liquid and ~70,000 staked at 2.7-3.8% yields. A rising-wedge pattern risks a 15% plunge to $1,950 on breakdown or rally to $2,630 on breakout.

Category

Ethereum

Sentiment

Neutral

Event

Institutional flow

Reading time

1 min