Ethereum Dips Below $3,200 Amid Bearish Trend Continuation

Ethereum is facing bearish pressure after failing to surpass the $3,300 resistance.
The price has dipped below $3,240 and $3,200, and is trading under the 100-hourly Simple Moving Average.
A break occurred below a key bullish trend line with support at $3,200 on the ETH/USD hourly chart.
The current low is $3,123, and Ethereum is consolidating losses around this point.
Immediate resistance levels are at $3,180 and $3,200, with major resistance at $3,220 and $3,250.

Ethereum Price

If Ethereum cannot surpass $3,220, it may decline further, with initial support at $3,120 and major support at $3,080.
A drop below $3,080 could lead to further declines towards $3,020 or even $3,000.
Technical indicators show the MACD gaining momentum in the bearish zone, and RSI below the 50 mark.