Ethereum's recent performance does indeed look like it could experience a wick down. On the chart, there's no significant struggle between bulls and bears, retail participation is lukewarm, which is directly reflected in clearly weakening liquidity and trading volume. Under these circumstances, the price is likely to test the support below before there's room for a rebound.

From a trading perspective, you can consider trying to catch longs in the 3070 to 3050 range. This level should provide some support, and if it can hold steady here, it could trigger a rally. Of course, in a low-liquidity environment, caution is still warranted, and stop losses should be set properly.