Ethereum has faced rejection at the $4,000 resistance level for the third time since March 2024, currently trading at $3,400 after a 6.7% drop in 24 hours. Despite a 47% year-to-date gain, it lags behind Bitcoin and other cryptocurrencies, with significant outflows from spot ETH ETFs and bearish sentiment among futures traders. Analysts suggest potential price consolidation ahead, with some predicting a bounce, while concerns about Ethereum's supply issuance and the Ethereum Foundation's selling practices persist.