Ethereum (ETH) Struggles at $2,400 After Foundation Withdraws $50M from Staking
Etheruem (ETH) Price Sellers drove the asset through the 50% Fibonacci retracement level spanning the rally from $2,265 to $2,382. While buyers emerged around the $2,300 mark, ETH continues trading below crucial short-term resistance thresholds. Should ETH maintain support above $2,300, traders should monitor resistance at $2,340, $2,365, and $2,380. Breaking above $2,380 could trigger a rally toward $2,400 and possibly the $2,440–$2,450 region. Conversely, losing the $2,300 support level would shift attention to $2,265. Further deterioration could expose $2,220 and $2,200 as subsequent support areas, with $2,150 representing a more significant support level. Foundation Withdraws $50M Worth of ETH from Staking Contributing to market discussions, the Ethereum Foundation initiated an unstaking process for roughly 21,271 ETH — valued at approximately $49.66 million — through Lido on May 11. The withdrawals occurred in multiple batches of about 811 wstETH, with each transfer worth close to $2.3 million. Why Is The Ethereum Foundation Unstaking $50M ETH? The Ethereum Foundation just unstaked 21,270 ETH from Lido. Our research team investigated the possible reasons behind the move, from growing DeFi security concerns to funding Ethereum development. Check it out below: — Arkham (@arkham) May 12, 2026 Blockchain tracking data from Arkham Intelligence revealed the Foundation‘s ETH holdings decreased from near its 70,000 ETH