🎉Hey there, Bitcoin enthusiasts!🎉 Let's take a quick detour to Ethereum's lane. ETH has been on a bit of a rollercoaster ride, with its price dropping since May after hitting a wall at the $4,000 resistance level.🎢

But hold on, there's a silver lining!🌤️ ETH is currently testing the $3,500 level from below. If it manages to reclaim this level, we could see it rally towards values higher than $4,000.🚀 However, if it gets rejected and loses the long-term bullish trendline and the 200-day moving average around the $3,000 level, things might turn sour.🍋

Peeking at the 4-hour timeframe, there are some early signs of a bullish reversal. The price has just broken above the large descending channel pattern but is struggling to break through the $3,500 resistance level. Yet, with the RSI indicating bullish momentum, the market might break higher and begin the next upward move.📈

Adding to the technical analysis, the futures market sentiment metrics show that the funding rates have been gradually decreasing since the first price rejection from the $4,000 level back in March. This indicates that the futures market is no longer overheated, and the price could finally begin another sustainable rally higher.🔥

So, let's keep our eyes peeled for ETH's next move!👀