Ethereum's price has shown signs of a bullish reversal after a recent 11.5% drop, recovering 2.5% to trade above $3,230. A bullish harami pattern has emerged on the daily chart, indicating potential upward momentum. However, ongoing whale activity suggests continued selling pressure, as the number of mega-whale addresses has decreased since November 2. The critical resistance level to watch is $3,650, where a close above would confirm the bullish pattern, while a decline below $3,050 could negate it.