Ethereum attempted to break the $4,000 resistance level but faced strong selling pressure, causing a sharp rejection. Concerns are rising about sellers dominating the market, and there are expectations of a potential sell-off if key support levels fail. Ethereum's price is nearing its previous swing low at $3,300, and a close below this level could indicate further bearish momentum. The $3,000 support region is seen as crucial defense by buyers, and if it breaks, Ethereum may experience significant declines in the medium term. Funding Rates, which reflect demand in the derivatives market, increased during the recent rally but declined after the rejection at $4,000. This decrease suggests reduced commitment from traders and insufficient demand to sustain the upward trend. The $3,000 support level is important for Ethereum's next move.



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