Ethereum Price Extends Losses, Can Bears Send ETH To $3,200?

Ethereum price extended its decline below $3,500. ETH is showing a few bearish signs and there could be a drop toward the $3,200 support zone.Ethereum started a downside correction below the $3,550 zone.
The price is trading below $3,550 and the 100-hourly Simple Moving Average.
There is a major bearish trend line forming with resistance at $3,520 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could resume its decline if it stays below the $3,520 and $3,550 resistance levels.Eth