Bankless Founders Sold Their ETH — Here’s What the Chart Says Next

Ethereum trades at $2,104 on May 25, holding barely above the channel’s lower trendline after a 12% pullback from early May highs, as negative sentiment, ETF outflows, and high-profile $ETH sales pile pressure on a chart that has no clean floor below $2,078.

$ETH Daily Chart: Channel Support Is All That Stands Between Here and $1,900

Price is pressing against the lower boundary of a rising channel that has contained Ethereum’s range since the February lows. All four EMAs are stacked above current price, with the 20 EMA at $2,181, the 50 EMA at $2,221, the 100 EMA at $2,297, and the 200 EMA at $2,528. The Supertrend indicator sits at $2,319, well overhead. Every short-term average is pointing down.

The channel’s lower trendline has held on a closing basis, but the May 23 wick to $2,078 showed how close $ETH came to losing it entirely. A daily close below that level opens the March support cluster between $2,017 and $2,022 next, and failure there puts $1,908 back in play.

Key levels:

• Resistance: $2,181 (20 EMA), $2,221 (50 EMA), $2,319 (Supertrend)
• Support: $2,078 (channel low), $2,017 (March structure), $1,908 (March low)

$ETH Hourly Chart: Downtrend Intact, MACD Trying to Turn

The hourly chart shows a clean descending trendline running from the May 11 high near $2,390 all the way to present price around $2,106. Every attempted recovery has been sold into, with the $2,160 zone acting as the most recent rejection point after liquidity was swept below $2,000 on May 23.

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The MACD on the hourly is showing early signs of a bullish cross, with the signal line at 0.35 and the MACD line at 0.77. That is worth watching but not enough to call a reversal while price remains inside the descending channel. A break and close above $2,160 would be the first real structural shift.

Why $ETH Sentiment Turned This Negative This Fast

Analytics platform Santiment flagged that Ethereum’s social sentiment deteriorated sharply through May, with bullish-to-bearish commentary ratios collapsing toward parity as frustration replaced optimism. The firm pointed to poor price performance, ETF outflows, and leadership instability as narratives hitting simultaneously.

Bankless co-founders Ryan Sean Adams and David Hoffman confirmed they sold their remaining $ETH positions, with Adams citing the end of Bankless’s first era. Despite Adams adding he remains personally bullish on $ETH, Santiment noted the move reinforced a growing sense that longtime supporters were losing conviction. Several Ethereum Foundation researchers and contributors have also departed in recent weeks, adding to concerns about strategic direction.

$ETH Derivatives: Longs Taking Heavy Losses, OI Barely Moving

Futures volume dropped 31.23% to $32.69B while open interest fell just 0.37% to $31.56B. Volume collapsing while OI stays flat means traders are reducing activity rather than building fresh positions in either direction. Long liquidations hit $50.87M over 24 hours against $10.57M for shorts, bears are clearly winning the futures battle right now.

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The long/short ratio on Binance sits at 2.453, meaning more accounts hold longs despite the downtrend, a setup that leaves plenty of fuel for further liquidation cascades if $2,078 breaks.

$ETH Price Prediction for May 26

• Upside: Holding $2,078 on a closing basis and reclaiming $2,160 opens a move toward the 20 EMA at $2,181, then $2,221 where the 50 EMA sits.
• Downside: A daily close below $2,078 targets the March structure between $2,017 and $2,022 first, with $1,908 as the worst-case scenario if that zone fails.