Ethereum Struggles with Upward Correction Amidst Solana and Bitcoin Challenges

By: Isha Das

Cryptocurrencies like Ether, Bitcoin, and Solana are currently facing a series of challenges in their value trend. Ether, despite starting an upside correction from the $2,165 zone, is trading below $2,240. It seems to lack the necessary momentum to clear its immediate resistance at this level and its following hurdle at $2,300, hints towards a likely decline below $2,165 support.

Meanwhile, Bitcoin barely makes an attempt to stabilize itself after a free fall below $40,000 and is at a critical juncture. It has attempted a recovery wave from the $38,500 support zone, establishing a potential resistance near the $40,400 level. Bitcoin's struggle to cross $40,400 and $40,500 resistance levels, indicates probable chances of depreciation.

Similarly, Solana is also attempting a recovery wave from the $80 zone, facing resistance levels at $92 and $94. It barely holds the ground against mounting bearish trends, making any significant surge unlikely. SOL has more chances of declining below the $84.80 support if it fails to rally above the $91.20 resistance.