Ethereum (ETH) is experiencing a strong recovery after being rejected at the resistance level of $4K and dropping to the support level of $3.5K. The increase in buying pressure has pushed the price of ETH back near the $4K level, where a breakthrough could trigger a short-squeeze, pushing the price higher. 📈

On the 4-hour chart, ETH is moving within an upward price channel. If it surpasses the resistance level of $4K, ETH could start a new bullish trend, targeting the all-time high. Conversely, if rejected, the price may continue to fluctuate within the range of $3.5K–$4K.

The funding rate has surged, indicating strong interest from buyers, paving the way for a potential breakout in the near future. 🚀