The price of Ethereum has been experiencing a drop and has yet to recover. The daily chart shows that the price has been making lower highs and lows since being rejected at $4,000. Support levels, including the 200-day moving average, have been lost. The 4-hour timeframe shows a gradual decline inside a falling wedge pattern, with the market breaking the pattern to the downside but later recovering. However, the RSI still indicates bearish momentum. If the price is unable to break above $3,000 soon, a deeper correction or longer consolidation could be expected. Analyzing the futures market sentiment shows that funding rates have dropped significantly, indicating a decrease in bullish sentiment. Without sufficient demand in the spot market, the market may not recover soon.



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