Ethereum's price is facing a tough battle, attempting to overcome resistance levels but failing to gain momentum. The cryptocurrency's value has been on a downward spiral, slipping below the $3,650 mark and struggling to stay above the 100-hourly Simple Moving Average.

Despite a brief increase, Ethereum's price couldn't sustain the momentum, forming a high at $3,710 before plummeting to a low of $3,565. The price is now consolidating losses, with a key bearish trend line forming resistance near $3,680 on the hourly chart.

If Ethereum fails to clear the $3,650 resistance, it may continue its downward trend, with initial support at $3,550. Further losses could push the price towards $3,520, $3,500, and even $3,320.

On the other hand, if the bulls push Ethereum above the $3,680 resistance, the price might rise towards $3,720, $3,750, and even $3,800.

Technical indicators show the MACD gaining momentum in the bearish zone, while the RSI is below the 50 zone. Major support levels are at $3,550 and $3,500, while major resistance levels are at $3,650 and $3,680.

Will Ethereum break through the resistance levels and rise again, or will it fall deeper into the bearish zone? Only time will tell.