📉 Ethereum's price has been on a bit of a rollercoaster ride lately, folks! After a second rejection from the $4,000 resistance level, we're seeing some lower highs and lows. 🎢

- The price is currently retesting the 200-day moving average, but it seems like it's getting a cold shoulder.

- We might be heading towards the $2,700 support level in the short term.

But hey, don't lose hope! 🙌

- The Ethereum Exchange Reserve metric shows an increase, indicating potential selling pressure.

- This could be the start of the capitulation phase, with many investors' stop losses below the $3,000 level.

So, what do you guys think? Is this a temporary dip or a deeper correction? Let's discuss in the comments! 💬 #ETH #DeFi