Ethereum Price Plummets: Potential Recovery Hindered by Bearish Pressure

Ethereum price failed to clear the $3,520 zone and started a fresh decline. ETH dived below the $3,250 support and even tested the $3,150 zone.Ethereum started a fresh decline below the $3,320 and $3,250 levels.
The price is trading below $3,250 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could correct losses, but upsides might be limited above the $3,320 zone.Ether