Ethereum Holders Stay Confident Despite Foundation Sell-Off

Ethereum holders remain confident despite recent sell-offs by the Ethereum Foundation. Data shows that ETH investors are still optimistic about a potential price rise, even though the Foundation has sold a substantial number of coins recently.

The Ethereum Foundation’s recent sale of 100 ETH valued at over $260,000 is just a small fraction of the overall sell-off this year, which has amounted to nearly 3,800 ETH. This could indicate strategic profit-taking or covering operational expenses, but it hasn’t dented investor sentiment significantly.

One key factor is the Net Unrealized Profit/Loss (NUPL) metric, which gauges market sentiment based on profit levels. According to data, ETH holders are currently in the “optimistic” zone, suggesting that investors believe in the coin’s long-term potential. This optimism remains strong despite the Ethereum Foundation's continuous liquidations.

Beyond NUPL, the Historical In/Out of Money (HIOM) shows that the percentage of ETH holders in profit has grown from 60% to over 64% recently. This means the level of unrealized gains has increased, which could encourage more investors to buy and boost the demand for ETH.

For Ethereum’s price trajectory, the Commodity Channel Index (CCI) indicates a potential upward movement if it can surpass its current signal line. However, failure to break through might lead to a short-term drop. Investors are watching these indicators closely, as they could signal the next major price trend for Ethereum.

Overall, while the Foundation’s sell-offs have raised concerns, ETH holders remain resilient, and market data supports a positive outlook. This confidence may drive further investments and stabilize the price in the near term.