Ethereum has been experiencing significant price fluctuations, struggling to regain momentum and currently falling below $3,100. Recently, ETH dropped to $3,074 but is attempting to recover, mirroring movements in Bitcoin.

Despite surpassing the $3,125 resistance level, Ethereum faces challenges in advancing further. It broke out above the 23.6% Fibonacci retracement level from its peak of $3,292 to $3,074. However, additional support is needed to push past resistance points, preventing further upward movement.

Currently trading at $3,180, Ethereum's 100-hourly Simple Moving Average indicates a downward trend. An ascending channel with support around $3,140 on the hourly timeframe is evident for ETH/USD. Resistance is expected at $3,180, corresponding to the 100-hourly Simple Moving Average.

Further hurdles lie at the $3,200 and $3,240 resistance levels, representing a 61.8% Fibonacci retracement and subsequent obstacles. Ethereum may aim for $3,280 if it overcomes these challenges, potentially leading to higher targets ranging from $3,350 to $3,500. Conversely, failure to surpass resistance at $3,180 could lead to downward movement.

ETH price forecast indicates potential support levels at $3,125, $3,075, and a critical level at $3,030. Breaking below $3,030 could lead to further decline, possibly reaching $2,750.

Technical indicators show a decline in adverse momentum in the Hourly Moving Average Convergence Divergence (MACD), while the Relative Strength Index (RSI) for ETH/USD remains below 50, indicating significant selling pressure.

As Ethereum navigates these technical levels, attention is focused on key resistance and support levels, particularly $3,200, $3,240, and $3,030, which will influence its price trajectory in the coming days.