🚀🎉 Hold on to your hats, BTC enthusiasts! Ethereum's price is showing signs of a comeback after a rejection from the $4,000 resistance level. 📈💪

The daily chart shows Ethereum's price has been on a downward trend, making lower highs and lows inside a descending channel since failing to break above the $4,000 resistance level. But wait, there's a twist! 🔄

Ethereum is clawing its way back above the $3,000 level and the midline of the channel. If the market successfully recovers back to these levels, we could see a breakout above the channel and a continuation toward $4,000 and even higher prices. 🚀🌝

The 4-hour chart provides a clearer picture of recent price action. The market has barely broken through the $3,000 resistance zone and is currently testing the midline of the descending channel. With the RSI showing values above 50%, ETH is likely to break through the level and potentially continue outward to the $3,600 resistance area. 🎢📊

Following the recent decline in Ethereum’s price, many futures traders have been liquidated or reversed their long positions. This could be a good sign, as the futures market has seemingly cooled down. Low but positive funding rates can be interpreted as a bullish signal, indicating that the demand is still there, and the price can soon rally higher. 🐂💰

So, is the Ethereum bull market back or is another dip below $3K imminent? Only time will tell! Stay tuned, BTC lovers! 🕰️👀