Whales selling and ETH ETF outflows could prevent ETH from reaching $2820.

Ethereum foundation offloads-

Ethereum Foundation offloaded another 100 ETH for the first time this Month In Sep month Ethereum Foundation sold over 1300 ETH at an average price of $2581 ($3.35 M) as the ETH price recovered.

Whale selling -

An ancient ETH ICO whale holding 150000 ETH from the Ethereum Genesis event transferred 5000 ETH to a Kraken wallet on Monday. Since Sep 22, ICO Whale has offloaded 45000 ETH.

Ethereum Coinbase Premium gap index -

It has declined from 0.94 on Sep 27th to -1.41. Higher negative values indicate investors avoiding buying ETH.

ETH ETF-

According to Cryptoquant, after 79 days ETH ETF has seen an outflow of $4.1 billion compared to $29.1 billion inflows to BTC ETF.

The intraday bullishness is possible if it holds above $2520.On the higher side, the near-term resistance is 2520. Any significant jump above targets $2705/$2820/ $3000/$3200. Significant bullish continuation only above $3400.

The immediate support is around $2300. Any breach below $2500 confirms bearish continuation. A dip to $2100/$2000/$1800/$1500 is possible. A violation below $1500 will drag the Ethereum to $1000.

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