Ethereum fell in price as all other coins in the crypto market. The drop in its price is more significant - there is a reason for this. Through Ethereum all tokens issued in his network are traded. And many people sell tokens on ETH and then go to Fiat.
Ethereum is slowly falling due to the hype in market but still survive in this era. It could be more great if we're capable to wait with this coin because this is one of the best options to buy or more potential in the future exchange.
The reason ethereum's price goes up later is because this currency will go up its price always goes up and down. No matter which way the market goes we have to wait patiently for ethereum to become a better currency in the future and traders will benefit if the price goes up.
I'm feeling bullish right now. In summation, the overall market situation is bullish and London's upgrade is on its way in August. Ethereum must go up before it can go down. There is the possibility that it will keep rising or that it will go down. No one knows, since market manipulation is real, so we should act wisely.
But if I understood everything correctly the London update is not supposed to improve scalability. I think that is what most people are waiting for, low transaction fees. That is supposed to be done with the next update, but that one will be far in the future. As far as I know Vitalik Buterin said that is not going to happen before late 2022. As he is conservative usually with his deadlines, I hope an update that improves scalability will come even earlier.