Ethereum Price Declines Below $3,300 as Resistance Holds Firm

Ethereum Price Update

Ethereum is facing resistance below $3,400 and is currently trading under $3,350.
A decline occurred after failing to recover above $3,400, with a low formed at $3,159.
The price is below the 100-hourly Simple Moving Average.
A bearish trend line has formed with resistance at $3,300.
Major resistance levels are at $3,400 and $3,450; support levels are at $3,200 and $3,160.
A drop below $3,160 could lead to further declines towards $3,080 and potentially $3,050.

Technical indicators show the MACD gaining bearish momentum and RSI below 50, indicating continued downward pressure on ETH.