Ether’s price faces challenges with spot buying declining and Ethereum ETF outflows increasing, potentially leading to a 20% drop to $3,100. Resistance at $4,000 has been strong, hindering recovery. Bulls need to surpass $4,000 to secure a rebound. Lack of buyers and negative spot volume delta suggest a deeper pullback. ETF outflows total $640.5 million. Bear flag pattern indicates a target of $3,100. Analysts remain optimistic about Ether’s potential. Bulls must defend $4,000 for momentum towards $5,000.

Read more at Cointelegraph: Here’s Why ETH Price Can’t Hold Above $4K