Ethereum’s price has dipped below a key support level, signaling potential short-term weakness despite earlier bullish patterns. A surge in trading volume suggests heightened market activity, but sentiment leans bearish amid rising short positions. Ethereum lags behind Bitcoin in relative strength, raising concerns among investors about its near-term potential. As technical signals for Ethereum highlight caution, traders are observing a breakdown from a bullish pattern on the 4-hour chart and noting a divergence between price action and technical optimism. While market activity has been picking up, particularly with a 28% increase in trading volume, the ETH/BTC chart reveals a tightening range that suggests a potential breakdown rather than a breakout.