Ethereum has once again faced rejection at the critical resistance level of $4K, indicating an active presence of sellers. 😮 A pullback to support at $3.5K is possible, which could present an opportunity for buyers to return to the market and attempt to reach $4K again.

On the 4-hour chart, Ethereum shows fluctuations between $3.7K and $4K. A bearish pullback is likely in the near term, but a successful breakout above $4K could resume the bullish trend. 📈

Analysis of liquidations on Binance indicates a concentration of liquidity above $4K, making this level attractive for large players, increasing the chances of a breakout.