Ethereum failed to clear the $3,200 resistance against the US Dollar. ETH price is declining and might retest the $2,960 support zone in the near term.
Ethereum is struggling to clear the $3,190 and $3,200 resistance levels.
The price is now trading above $3,050 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $3,060 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could extend losses if it fails to stay above the USD 3,050 support.
Ethereum attempted an upside break above the $3,200 resistance zone. However, ETH failed to gain momentum and formed a short-term top near the $3,196 level
