The price of Ethereum (ETH) failed to break through the $3,750 resistance level and has declined back to $3,350. It is currently struggling to start a fresh increase. Despite remaining stable above $3,650 and experiencing an upward movement, the bulls were unable to push the price above $3,750. As a result, there was a decline below $3,650 and $3,550, including a break below a bullish trend line with support at $3,675. The price is now consolidating below the 23.6% Fibonacci retracement level and is trading below $3,550 and the 100-hourly Simple Moving Average. On the upside, there are hurdles at the $3,450 and $3,500 levels, with the main resistance forming near $3,550. A clear move above $3,550 could lead to further gains towards the $3,650 resistance and potentially even $3,750 or $3,880 in the near term. However, failure to break the $3,450 resistance could result in another decline, with initial support at $3,350 and a major support zone near $3,320. Further losses could push the price towards $3,250 and $3,150. The MACD and RSI indicators are currently showing bearish momentum, indicating a potential downward movement for ETH/USD.



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