Ethereum Faces Bearish Sentiment as Prices Dip Below $3.8K

Ethereum (ETH) has experienced a price correction, dropping below $3,800, as it struggles to breach the $3,900 resistance level. Despite the bearish market conditions, buying pressure remains high, supported by technical indicators suggesting a potential price increase. The Ethereum Foundation's recent sale of 100 ETH has not significantly impacted the market, as overall selling pressure has declined. Whale sentiment indicates high selling activity, but the increase in long positions and technical indicators like the RSI and CMF suggest a possible bullish reversal for ETH.