The Ethereum price struggled to continue its upward movement above $3,420 and has now dipped. It is currently approaching the $3,150 level and may face difficulties in starting a fresh increase. There was a correction in price after it reached a high of $3,427, leading to a move below support levels at $3,320 and $3,220. The price is now consolidating losses and is trading below $3,250 and the 100-hourly Simple Moving Average. To resume the upward trend, the price needs to surpass resistance at $3,300, followed by $3,350. Failure to clear the $3,250 resistance could result in another decline, with initial support levels at $3,150 and $3,120. Technical indicators show bearish momentum, with the MACD in the bearish zone and the RSI below 50.



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