The Ethereum price has declined by over two percent and is currently trading below $3300. The market analysis suggests that Ethereum is in an uptrend and may be approaching the end of a larger cycle, with Wave 5 potentially signaling a top for the trend. Recent price action indicates weakening momentum, which is typical towards the end of a cycle. Ethereum is currently in a corrective phase, with a potential Wave 2 forming. If support levels hold, higher prices are still possible with an ideal target of $3,572. However, if the price breaks below key support at $2,470, the outlook will turn bearish. Confirmation of a more bullish trend will depend on breaking key resistance levels between $3,415 and $3,648.



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