$ETH on weekly chart, it looks like a trend-line breakout was done during the first week of Dec 2024, but could not sustain it. This week, so far a big selling off and brought the price around 24% down. In technical terms this is called fakeout or false breakout. One good thing is that is it continuously able to hold the trendline support. In upcoming weeks it should again re-test the 4k level and hope this time it would rally once the 4k levels are broken. On weekly chart it took support on 20ema. If it remains above the 20ema , it would create a nice base around 3k level. A dip buying can be done if price goes below 3120 levels. I would not place a short trade because over all trend so far is bullish and always remember that “Trend is your friend” so follow the trend.
