Ethereum failed to make a new record and is showing bearish momentum, raising concerns about the end of the bullish trend. The price remains below $3,500, which has become a key resistance level. On the daily chart, the price rebounded from the $2,300 support but was rejected at $4,000. A decline towards the $3,000 support zone is possible. On the 4-hour chart, a double top is forming, indicating a possible consolidation. Analysis of the futures market shows that selling pressure may be caused by futures, making it difficult for the market to recover.