Ethereum Faces Persistent Resistance Below $3,400
- Ethereum price declined below $3,350 and $3,320 support levels.
- A low was formed at $3,159 with consolidation below the 23.6% Fib retracement.
- Resistance is noted at $3,300 on the hourly chart of ETH/USD.
- The MACD for ETH/USD is gaining momentum in the bearish zone.
The decline of Ethereum below key support levels like $3,320 suggests potential challenges for investors seeking short-term gains. The bearish momentum indicated by the MACD could deter bullish investment strategies until resistance levels are overcome.
