The article discusses the recent price movements of Ethereum (ETH). ETH experienced a downside correction, falling below key support levels at $3,150 and $3,120. It even dropped below the $3,040 zone and tested the $3,000 support level. However, the price has since begun consolidating losses and climbed above the 23.6% Fib retracement level. Currently, ETH is trading below $3,200 and the 100-hourly Simple Moving Average, facing resistance at the $3,120 level. If the price manages to surpass the $3,220 resistance, it could rise towards the $3,320 and $3,450 resistance levels. Conversely, a failure to clear the $3,320 resistance could result in another decline, with support at $3,060 and $3,040. Further losses may drive the price towards the $2,980 and $2,920 support levels. The article also mentions that the MACD and RSI indicators are showing bearish momentum for ETH.



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