Ethereum price faced resistance at $3,520 and started a downward trend. It dropped below $3,250 and tested the $3,150 zone. The price is currently trading under $3,250 and the 100-hourly Simple Moving Average. A bearish trend line is forming with resistance near $3,325 on the hourly chart of ETH/USD. There could be a correction, but gains may be limited above $3,320. Ethereum failed to surpass $3,450 and $3,420 and fell below $3,320 support levels. The price declined by 5% and touched $3,150 before consolidating losses. It is now testing resistance levels, with the next major hurdle at $3,365. Failure to break above $3,320 could lead to further decline with initial support at $3,200 and major support at $3,150. Technical indicators show bearish momentum with MACD and RSI below key levels. Major support is at $3,150, while resistance lies at $3,320.
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