If Ethereum ($ETH) fails to quickly reclaim $2700, then the $4000 target is out of reach for now. Ethereum ($ETH) has essentially completed a clean and decisive range-bound movement. For the past few weeks, the price has been fluctuating between $2700 and $3300. You can see that the $2700 support level was held twice (two upward white arrows in the chart). Five days ago, the price finally broke below $2700 (indicated by the arrows in the chart), which may have turned that level into resistance. Since then, the price has fallen to the next major demand point at $2150. This is precisely where buyers are likely to re-enter the market. My base case scenario is that the price may fluctuate between $2150 and $2700 for some time, with the key being the price's reaction when it first retests $2700. If we can hold this price level, then this decline will appear more like a deflection, with the upside potential initially pointing to $3300, followed by the next significant selling/target area, roughly between $3900 and $4100 (the gray area in the chart above). As long as the $2150 level holds effectively, I would consider it a process of price decline → bottoming out → attempting a rebound.