📈 Ethereum Outlook and SEC Probe Overview:

📊 Price Projection: Technical indicators suggest Ethereum ($ETH ) could surpass $5,400 this year.

📈 Mayer Multiple Analysis: Indicates the potential for Ether to reach the upper band of the indicator.

💰 Current Price: Trading at $3,300, down over 10% in the past week.

📉 Market Downturn: Bitcoin's plunge from an all-time high contributes to the broader cryptocurrency market decline.

🕵️‍♂️ SEC Investigation: Probing Ethereum's classification as a security, casting doubt on spot ETF approval.

📑 Subpoenas: Demanding documents from firms related to dealings with the Ethereum Foundation.

💼 Coinbase Response: Criticizes the SEC's investigation, citing previous acknowledgments of ETH's non-security status.

🎙️ Gensler Testimony: Refers to previous classification of ETH as a commodity rather than a security. 📉💼🛠️ #HotTrends