Despite a recent price drop, Ethereum is showing signs of a potential turnaround. While trading volume has declined, technical indicators point to a bullish reversal. Experts suggest that this could signify the easing of downward pressure on the asset. This decline coincides with the ongoing correction in the ETH market. 10-day moving average for ETH shows a notable dip, signaling an overall weakening trend, however, the price is still holding above $1769 level. 24 hours data reveals a drop of 2.12% over the period. Ethereum is currently valued at $1,771.84, indicating a decline in market sentiment and investor confidence. However, key technical signals like the Stochastic RSI entering an oversold zone, suggest a potential upward trend reversal. This could be fueled by upcoming advancements such as the Pectra upgrade, aimed at improving user experience and lowering transaction costs. Despite this anticipation, the market’s reaction to the upgrade has been muted compared to previous upgrade cycles. While analysts anticipate a price recovery if key resistance levels are breached above $1800, they also consider the influence of macroeconomic factors on the market sentiment. The upcoming FOMC meeting is considered a key catalyst for potential shifts in investor behavior and market fluctuations.