Will Ethereum Price Break Downtrend With Support from Whale Movements?

24-3-2024 International Coingape 144 Print this Page

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 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.

</div>

<style>
.video-container { position: relative; padding-bottom: 56.25%; padding-top: 30px; height: 0; overflow: hidden; }
.video-container iframe, .video-container object, .video-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }
</style>
<script src=

BitRss.com shares this Contents always with

License.

Cool to know huh? Read the full Article at : Coingape

Read the full Article: ⭲ Will Ethereum Price Break Downtrend With Support from Whale Movements?

Search about Crypto News

BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.

| LEARN MORE ABOUT |

BlockChain Knowledge Base
Cryptocurrency Knowledge Base
Bitcoin Knowledge Base

BITRSS | Submit Your Crypto NEWS

BitRss.com not only Update the Sources several time a day and allow Visitors to follow and comment on the latest News; We accept submissions of your own Bitcoin or related Crypto stories.

Our Team will evaluate in depth, human touch, if the Rss and Feeds Sources, will be in line with our policy.
( Change privacy settings )

Please support BitRss.com: if you like it, share your favorite News to your Socials!

Today Most Popular News

Das große Memecoin-Sterben: 12 Token, die verbrannt sind
Das Geschäft mit Memecoins wirft am Krypto-Markt hohe Gewinne ab. Nicht alle halten jedoch, was sie versprechen. Bei diesen Token ist Vorsicht...
Funding Wrap: Investors place more EigenLayer bets
Two more restaking-related protocols announced funding rounds this week, as venture investors look to gain exposure to EigenLayer’s burgeoning...
One of the Most Talked About But Then Forgotten Altcoin Founder Said, “95 Percent of the Industry is Garbage”, Praised His Own Token
Dominic Williams, founder of the Dfinity Foundation and its chief scientist, recently expressed concern about the current state of the crypto and...
Polygon Achieves Major Milestone with Robinhood Integration
Polygon (MATIC) has marked a significant advancement in its Q2 2024 strategy through a new collaboration with Robinhood Wallet . Robinhood...
Solana (SOL) and Ethereum (ETH) Signal Uncertainty, While Investors Flock to Furrever Token (FURR): Is It Time to Invest FURR?
The post Solana (SOL) and Ethereum (ETH) Signal Uncertainty, While Investors Flock to Furrever Token (FURR): Is It Time to Invest FURR?...
XRP, Ether, Cardano, SOL, Shiba Inu to Activate New Price Explosions as Key Metrics Suggest Crypto Winter is Over
The tides are changing for Bitcoin, and the broader cryptocurrency market as new metrics highlight a noteworthy shift in market movement....
Solana Witnessing ‘Dramatic Increase’ in Investor Allocations This Year, According to New CoinShares Survey
Ethereum ( ETH ) rival Solana ( SOL ) is seeing a “dramatic increase” in professional investor allocations this year, according to a...
Bitcoin: A Ray Of Hope For Japan Amid Yen’s Historic Collapse?
As the Japanese Yen continues to plummet, reaching a 34-year low against the US dollar, concerns over the country’s economic stability...
Cathie Wood’s Ark Invest Picks Meta (META), Palantir (PLTR) Stock in Major Buy
Cathie Wood’s Ark Invest went on yet another buying spree on Friday with stocks taking a major limelight. The firm’s top picks for...
Zksnacks Bars US Users from Wasabi Wallet in Wake of Samourai Indictment
In a decisive move, Zksnacks announced on Saturday that it will block all U.S. residents and citizens from accessing its bitcoin mixer, Wasabi...

Dokky PRO - Bookcase Shop Script