Ethereum's price started another decline, moving below the critical $3,150 zone. It's currently struggling, possibly facing further declines below the $3,000 support. Trading is occurring below $3,100 and underneath the 100-hourly Simple Moving Average.
A bearish trend line is forming with resistance around $3,080 on the ETH/USD hourly chart. If Ethereum closes below the $3,000 support zone, it could extend its losses. The market predicts potential gains if the price moves decisively over $3,180.
Ethereum's price fell despite attempting an upside breakout above $3,200 but failed to emulate Bitcoin's performance. It declined below $3,150 and $3,120 support levels, testing lows near $3,040.
Resistance points at $3,080 and $3,120 hinder the upside. Major resistance around $3,180 may indicate that prices could approach $3,450 if broken.
The key support level is at $3,030, with major resistance near $3,100. Technical indicators such as an hourly RSI below 50 and a bearish MACD indicate continued pressure on Ethereum’s price.
