📣🚀BTC enthusiasts, eyes here! Ethereum's price is on a downward trend, but don't lose hope just yet! 🙌

📉The daily chart shows a large descending channel pattern with the price failing to reclaim the $3,500 level. A drop towards the $3,000 support level, coinciding with the lower boundary of the channel and the 200-day moving average, is expected. 😬

But hey, don't panic! This confluence of support elements makes $3,000 a strong support zone. If it breaks, things could get worse, but we're not there yet! 💪

The 4-hour chart shows a clear rejection from the $3,500 resistance level. The $3,350 short-term support zone is also breaking to the downside, making $3,000 a probable target for ETH. 😱

But here's the silver lining! The RSI has entered the oversold region, hinting at a potential recovery soon. So, keep those eyes peeled! 👀

The Taker Buy Sell Ratio, a useful futures market metric, shows a huge volume of market sell orders following the rejection from the $4,000 level. This suggests that traders believe the price will drop even lower in the short term. 📊

So, BTC lovers, while the bear might be growling, it's not the end of the world. Keep your spirits high and your eyes on the charts! 🚀🌕