$ETH

Ethereum's technical outlook appears bearish, with the asset struggling to break above the $3,200 resistance level. The Relative Strength Index (RSI) has dipped below 50, indicating a loss of momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bearish crossover.

A break below the $2,900 support level could lead to a decline towards $2,500. However, if Ethereum can reclaim the $3,200 level, it may spark a rally towards $3,500.

Traders should exercise caution and monitor the asset's price action closely, as the technical outlook suggests a potential downturn.