Ethereum's recent technical indicators show clear signs of resistance. The current price is still being suppressed by the key long-term moving averages MA120 (3476.30) and MA250 (3426.71), forming a double bearish pattern. Historically, the previous high of 3658.98 and the recent resistance level of 3319.97 form a solid resistance zone, indicating that the upward rebound potential is quite limited.

From a trading perspective, the 3290-3340 range is an ideal short entry point. Once the price breaks above 3370 (the stop-loss line, also the MA250 key level), it indicates that the bearish momentum has been broken, and traders should exit promptly.

Regarding the downside targets, the first level looks toward around 3250 (MA5 support). If the weakness continues, 3200 (MA10 support) can serve as the second target. From the current technical setup, the short-term trend leans downward, and rebounds should be approached with caution.