Ethereum repeatedly surged around the key resistance level of $3,400 but ultimately failed to break through effectively. It then plummeted straight down to the $3,200 support zone — the very level highlighted in previous analysis. How will the situation develop next? The key depends on whether ETH can hold steady above $3,200. If this line of defense is maintained, the next upward attempt is likely to target $3,400 again. In the short term, the support and resistance levels will be the main focus for traders.