Large Ethereum transactions declined 61.17%, while transaction volumes droppped 70%.
Ethereum Foundation sold 100 ETH at $3,078, totaling 300 ETH sold in 2025.
Triple black crow pattern hints at extended Ethereum price drop below $3,000.
With the total crypto market cap down at $3.31 trillion, the liquidation in the crypto market has reached $860 million. Amid such conditions, the biggest altcoin in the market Ethereum has dropped by nearly 7%, testing its crucial support level at the $3,000 mark.
As bullish bets in the market lose nearly $800M, Ethereum traders are wondering about the upcoming move from the $3,000 crossroads. Will the ongoing crash result in a closing price under $3,000 for the first time in 2025?
Ethereum Foundation Sells Another 100 ETH Batch
Amid the broader market crash and declining Ethereum prices , the Ethereum Foundation continues its selling spree. In the past few hours, the foundation has sold another batch of 100 Ethereum tokens.
[ATTENTION] The Ethereum Foundation sold 100 $ETH for 307,893 $DAI again after just 7 days!
So far, 300 $ETH has been sold for $981.2K at an average price of $3,271 in the first 27 days of 2025.
The $ETH price dropped by 7.33% today!
Follow @spotonchain and set alerts for the… https://t.co/dWJ0ys7wfw pic.twitter.com/7AOzVLsadO
— Spot On Chain (@spotonchain) January 27, 2025
[ATTENTION] The Ethereum Foundation sold 100 for 307,893 again after just 7 days!
So far, 300 has been sold for $981.2K at an average price of $3,271 in the first 27 days of 2025.
The price dropped by 7.33% today!
Follow and set alerts for the…
— Spot On Chain (@spotonchain)
This time, the average price comes at $3,078.93, and the exchange occurred for 307,893 DAI tokens. With the recent offloading, the total amount of ETH tokens sold by the Ethereum Foundation in 2025 comes to 300 ETH for 980,388 DAI tokens.
Declining Volumes Reveals Slowdown in Ethereum Network
Along with the major crash in Ethereum prices, the Ethereum network is taking a massive hit. The number of large transactions over the Ethereum network has dropped from 12.36K to 4.8L. This marks a significant decline of 61.17%.
Furthermore, the large transaction volume has dropped from 3.43 million ETH tokens to 1.05 million ETH tokens. This marks a nearly 70% decline in transaction volumes.
Hence, with a massive decline in whale activity over the network, the demand for Ethereum is likely to subside in the broader market. This will likely plunge the market value down under the immediate support of $3,000.
ETH Price Analysis Flags Point of No Return at $3,000
In the 4-hour chart, the ETH price action reveals a bullish failure to hold the consolidation near the $3,300 mark. Amid the broader market crash, the Ethereum price trend created three massive bearish engulfing candles to test the $3,000 mark.
These three bearish candles account for a price drop of nearly 10%. Furthermore, it creates a triple black crow pattern hinting at an extended crash.
The pullback in ETH price has breached the recent low near $3,145 to test the psychological mark. With a lower price rejection and Doji candle, Ethereum is hinting at a potential morning star.
This minor bullish reversal could come as a retest of the broken $3,145 price level. However, with the RSI line crashing into the oversold zone and the crucial exponential moving average lines maintaining a bearish alignment, the downfall seems inevitable.
With a post-retest reversal, the downfall in Ethereum price could test the previous swing low at $2,913. For a sustained bullish recovery, the ETH price must surpass the $3,200 barrier.
This will likely result in a price surge to the 200 EMA line near $3,358 or an extension to $3,475.
