The price of Ethereum has dropped by about 25% and is currently trading slightly above $3200. There are indications of a potential breakout in either direction, with the broader trend remaining bullish. Bitcoin's dominance in the market is starting to cool off, which could be positive for Ethereum and other altcoins. Ethereum faces resistance between $3370 and $3613, and breaking above this range could signal the start of a new bullish trend. There is also a possibility of Ethereum forming a triangle pattern, which could result in more sideways movement before a breakout. If Ethereum breaks above $3613, it could invalidate a bearish scenario and increase the likelihood of a bullish breakout.



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