Ethereum has shown a modest recovery from $3,160, moving above the $3,200 mark while facing resistance at $3,320.A bullish trend line is forming with support at $3,250 on the hourly chart.Key resistance levels are established at $3,320 and $3,450, with potential for movement to $3,500 if broken.Technical indicators suggest bearish momentum with MACD in the bearish zone and RSI below 50.