Ethereum Price Struggles at $3,300, Potential for Deeper Drop?

Ethereum (ETH) faces a challenging moment, struggling to hold above the crucial support zone of $3,200. Chart analysis reveals growing risk of a potential price drop towards $2,700 if current resistance holds. Key factors contributing to this downward pressure include: 1) waning demand with traders expecting further price decline. 2) Resistance near $3,760 remains unbreached despite multiple attempts at breaching it for bullish momentum.