A recent analysis by veteran crypto chartist CryptoPatel suggests that Ethereum is facing a significant bearish trend. CryptoPatel highlights the completion of a ‘premium zone’ retest, where Ethereum price action has confirmed resistance at the $3,950-$4,050 range after briefly exceeding this level. This confirms a potential bearish reversal as Ethereum continues to show a lower high and lower low pattern on both daily and weekly timeframes. This bearish structure is further reinforced by the fact that Bitcoin dominance remains strong. Patel warns that short-sellers should pay close attention to price action in the $3,860-$3,660 range as this zone marks a potential entry point for short positions. If any daily or 4-hour candle closes below the $3,860 level, it could trigger a cascade of stop hunts and long liquidations. The article emphasizes that ignoring the broader market trend risks missing out on potential profit opportunities.