Ethereum (ETH) is experiencing a short-term correction after failing to break the $4,085 resistance level, marked by five consecutive bearish candles. Exchange reserves have significantly decreased from 27 million ETH in early 2023 to 15.9 million by late 2025, reflecting reduced sell pressure and increased confidence among long-term holders. In a notable move, SharpLink Gaming, based in Minnesota, has expanded its Ethereum holdings to 859,853 ETH, valued at $3.5 billion. Despite the market cap nearing $490 billion, Ethereum's price has fallen below the 0.618 Fibonacci level at $3,921, with potential further declines to $3,823 or $3,764. The presence of a TD Sequential '5' candle indicates the current bearish trend may continue.