Ethereum is trying to hold $2,000. The market is coiling for a significant move. And the organization that has been selling this asset for months has just changed what it is doing with its ETH.
Data from Arkham Intelligence has confirmed a behavioral shift at the Ethereum Foundation that the market has been waiting for without knowing it was waiting: the Foundation has stopped selling ETH and has started staking it. That sentence requires context to carry its full weight.
That chapter appears to be closing. Staking is the opposite of selling in every meaningful sense. It is locking, committing, removing from circulation, and earning yield on the conviction that Ethereum’s future justifies the commitment. The Foundation is no longer exiting. It is embedding itself deeper.
This Is No Longer a One-Time DecisionA single staking transaction can be dismissed as treasury optimization. Two transactions totaling nearly $100 million cannot. The Foundation has now made the same decision twice, in the same direction, at a price level that the broader market has treated as fragile support. Each transaction is a vote. The second vote confirms the first was not an anomaly.
The supply consequence is direct and permanent for the duration of the stake. $96.59 million in ETH now sits in staking contracts — unavailable for sale, removed from the liquid float, contributing nothing to the sell-side pressure that has weighed on the $2,000 level for weeks. The Foundation’s previous selling added to that pressure. Its current staking position actively reduces it.
The organization that built Ethereum has now committed nearly $100 million to its own protocol at exactly the moment the market is deciding whether $2,000 holds. That timing is not incidental. It is a statement.
Ethereum Tests Long-Term Support as Weekly Structure WeakensEthereum’s weekly structure shows a market at an inflection point, not in a confirmed breakdown. Price is currently holding near $2,060, sitting just above the 200-week moving average — a level that has historically acted as a long-term trend boundary. That positioning matters. Unlike lower timeframes, this is where structural bull and bear regimes are defined.
The rejection from the $4,000–$4,500 region established a clear lower high, breaking the sequence of higher highs that defined the prior expansion phase. Since then, Ethereum has retraced sharply, losing the 50-week and 100-week moving averages, both of which are now flattening and beginning to roll over. That shift signals weakening momentum, but not yet a completed trend reversal.
The key issue is follow-through. The recent bounce off sub-$2,000 levels has not been strong enough to reclaim the 100-week average decisively. Without that, price remains vulnerable to another test of the 200-week level.
Volume does not show aggressive accumulation at current levels. That absence raises a question: is this a structural defense or a temporary pause?
If $2,000 fails on a weekly basis, the next meaningful support sits significantly lower. If it holds, Ethereum remains in a contested but still salvageable long-term structure.
Featured image from ChatGPT, chart from TradingView.com
