Ethereum has formed a bullish falling wedge pattern on its daily chart, signaling potential upside. Despite a recent 38% decline to $2,954, Tom Lee of FundStrat and BitMEX remains optimistic, citing Ethereum's strong position in the RWA and stablecoins sectors and the upcoming Fusaka upgrade as positive factors. The RSI indicates near-oversold conditions, suggesting a possible rebound to $3,300. However, a drop below $2,900 could see Ethereum fall to $2,500.