Ethereum's native token, Ether (ETH), has seen a decline of over 18.55% in February, as market anxiety over tariffs and founder-led selling intensifies. On Monday, the token's value fell more than 5.60% to approximately $1,850, breaking below its bear pennant pattern's lower trendline, signaling a potential further decrease.
The price of ETH may approach the key support level of $1,500 by early March, with a downside target set at $1,475. This bearish trend could continue if the bulls fail to reclaim the pennant support and rally above the 20-day exponential moving average at $2,085.
Vitalik Buterin, Ethereum’s co-founder, has been actively selling his holdings, with plans to liquidate 16,384 ETH to fund various initiatives. Onchain tracker Arkham Intelligence has reported significant selling activity, including a recent withdrawal of 3,500 ETH from Aave, contributing to the negative pressure on ETH's price.
Historically, sales linked to founders have led to increased bearish sentiment, with previous transfers resulting in significant price declines. As Buterin continues to sell, traders remain cautious about potential further drops in value.