Ethereum has failed to break the $4K resistance level again, causing a price drop. However, it has reached the $3K support area, where a recovery is expected. 📉

Technical analysis shows ETH consolidating in the $3.5K–$4K range. This increases the possibility of a retest of the $4K resistance. 📈

On-chain analysis suggests that liquidations in futures have cooled market sentiment and could pave the way for a sustained rally.