Ethereum's price saw a drop below the $3,450 zone but is now showing signs of recovery. If Ethereum can surpass the $3,445 resistance level, there’s potential for a further rise. Initially, Ethereum fell below $3,500, impacting its rebound attempts.
The price currently trades below the 100-hourly Simple Moving Average and has recently broken a bearish trend line with resistance near $3,300. The ETH/USD pair might see significant gains if it successfully clears $3,450 and $3,500.
If resistance isn't surpassed, there might be a continuation downward. Key support levels include $3,220 and $3,200, and a break below these could push prices even lower.
