Ethereum price: Amid the current market sell-off, the Ethereum coin witnessed a notable correction with the price falling from $4091 to $3060. This 25% downswing recently hit the 38.2% Fibonacci retracement level, a tool projecting the crucial support for an asset to rebound. However, as Bitcoin price faces additional supply pressure from the increasing outflow from spot ETF, the altcoins are at risk for further downfall.
Also Read: Crypto Prices Today March 23: Bitcoin Dips Below $64K, Ethereum At $3300, XRP & SOL Drop
Ethereum Defies SEC Scrutiny as Whales and Technicals Suggest Rebound
Ethereum Price| Tradingview
In the face of SEC scrutiny and broader market correction, the Ethereum price showcased a V-top reversal from the March 11th high of $4090. However, data from Santiment reveals an uptick in whale activity, with the year’s highest recorded levels suggesting substantial market interest.
The RSI indicator has plummeted to 28.5, its lowest point since a similar market b
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