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 bottom in late January, hinting at an oversold condition. This metric, coupled with a 7% decrease in the 30-day average trader returns, could be forecasting a turnaround for Ethereum, as market conditions appear ripe for a potential recovery.