Ethereum Price Retreats From Resistance—Is a Trend Reversal Starting?

Ethereum price started a fresh increase above $3,350. ETH is now correcting gains from $3,450 and might decline further below $3,200.Ethereum started a downside correction from the $3,450 zone.
The price is trading near $3,200 and the 100-hourly Simple Moving Average.
There was a break below a bullish trend line with support at $3,240 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it settles below the $3,200 zone.Ethereum Price Declines Heavily
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