Cryptocurrency Giant Hits Roadblock at $2,400 Mark Amid Behind-The-Scenes Sale of 10,000 Coins

Table of Contents Ethereum is trading near a critical technical zone after recovering from early 2026 lows, with price action pressing into major long-term resistance. The asset remains below key weekly indicators, leaving traders focused on whether current momentum can sustain a broader trend shift. Ethereum’s weekly structure shows price approaching a decisive resistance cluster after rebounding from recent lows. The current move places the asset just below long-term indicators that often define broader market direction. A recent tweet from Daan Crypto Trades outlines this setup, noting that Ethereum is rejecting the bull market support band and weekly 200 averages. The post states that a close above the $2,400 to $2,500 range is required to regain bullish control. $ETH Rejecting from the bull market support band and weekly 200MA. This is a critical high timeframe region for ETH to close above if it wants to get out of the high timeframe downtrend that started last year. Needs to hold above $2400-$2500 for the bulls to be back in control… https://t.co/ANVnffrE4q pic.twitter.com/2I8XYeZVOO — Daan Crypto Trades (@DaanCrypto) April 24, 2026 At present, Ethereum trades near $2,309, still below the weekly 200 EMA around $2,459 and the 200 MA near $2,430. This area continues to act as a resistance cluster that limits upward movement. The price structure reflects a strong rally into late 2024, followed by a rejection near the $4,600 level. Since then, Ethereum has remained within a broader downward structure, despite the recent recovery attempt. The same zone previously acted as support during the earlier uptrend. Once the price broke below it, the level flipped into resistance, reinforcing the current barrier on higher timeframes. Ethereum rebounded from a capitulation low near $1,790, where elevated selling volume marked a possible exhaustion phase. Following that move, price reclaimed the $2,100 to $2,165 support region. A separate update from CryptosRus reported that the Ethereum Foundation completed a 10,000 ETH over-the-counter sale. The transaction was executed at an average price of $2,387, with BitMine listed as the buyer. ETHEREUM FOUNDATION SELLS 10,000 ETH TO BITMINE The Ethereum Foundation finalized a 10,000 $ETH OTC sale at an average price of $2,387, with BitMine named as the buyer. That is roughly $23.9M in ETH moving through an institutional OTC channel — another sign that major ETH… https://t.co/mNxmRgxh2W pic.twitter.com/RM01cwKrdZ — CryptosRus (@CryptosR_Us) April 24, 2026 The deal represents roughly $23.9 million in Ethereum transferred through an institutional OTC channel. Such transactions often occur outside public exchanges, allowing large orders without immediate market disruption. Following this, the price continues to trade within a recovery structure, gradually pushing toward the $2,300 range. Even so, the asset remains inside a broader downtrend on the weekly timeframe. Support levels remain clearly defined. The $2,165 to $2,106 zone serves as the nearest support range, while the $2,030 to $1,790 region holds as macro support below. On the upside, resistance levels continue to cap the price. The $2,815 to $2,851 zone has seen repeated rejections. Beyond that, the $3,300 to $3,500 range represents a prior support area that now acts as resistance. Volume data shows a shift after the sharp decline. Selling pressure has eased, while gradual buying activity has emerged. This pattern aligns with early accumulation behavior, though confirmation remains limited. Traders continue to monitor the $2,400 region closely. A move above this level could lead to a test of $2,850, while rejection may result in a return to lower support levels. For now, Ethereum remains in a transition phase, with price reacting to long-term indicators ahead of the next directional move.