Ethereum price has entered a downtrend, failing to break the $4,000 level. 📉

On the daily chart, a double top formation has formed at the $4,000 resistance and the $3,500 level has also been broken downwards. The price is likely to fall to the $3,000 support.

On the 4-hour chart, the market is trying to retest the $3,500 level. The RSI is rising, indicating bullish momentum in the short term. 📈

ETH reserves on exchanges are decreasing, indicating that investors can accumulate. This could be a sign of a potential rise for ETH.