Ethereum Faces Resistance, Price Struggles Below $3,500
- Ethereum price failed to maintain levels above $3,550 and is now trading below $3,500.
- The price has dipped below the crucial support level of $3,350, entering a short-term bearish zone.
- Key resistance stands at $3,550 with a bearish trend line forming on the ETH/USD hourly chart.
- A further decline could push the price towards the next major support level at $3,280.
Ethereum’s inability to sustain its position above key resistance levels suggests potential for further declines if it remains below the critical $3,350 support zone. The market is watching closely as ETH struggles to regain bullish momentum.
With Ethereum trading under its major resistance and support thresholds, investors are cautious about potential downward movements toward lower support levels like $3,280 and beyond. (Source)
