Ethereum is facing strong selling pressure after failing to break the $4K threshold, raising concerns about the dominance of sellers in the market. 📉

- On the daily chart, ETH has been strongly rejected at the fair value range of $3.7K-$3.8K, pushing the price back to the previous low of $3.3K. If the price closes below this level, the downtrend may continue. However, the support area of $3K remains a crucial frontline for buyers.

- On the 4-hour timeframe, the triple top pattern and bearish divergence on the RSI indicate weakening buying momentum. ETH has broken the $3.5K support and is now approaching the key support area of $3K.

- On-chain analysis shows that Funding Rates have decreased after ETH was rejected at $4K, signaling that demand is not strong enough to sustain an upward trend. The support area of $3K is critical for ETH's next move. 🚀