Ethereum and Solana Face Uncertain Shortterm Prospects amidst Crypto Market Crash

The current short-term trend for Ethereum remains bearish, with strong resistance levels yet to be broken and critical support levels being retested. Analyst Josh of Crypto World is more bearish than bullish in the short term, and his stance has proven accurate so far. In his latest analysis video, he stated that Ethereum’s price is retesting a short-term support level between $3,470 and $3,480, and if this support breaks, the next level to watch is around $3,350. Ethereum has been trading in a choppy sideways range recently, appearing neutral in the very short term.

Ethereum faced a strong rejection from the golden pocket area of resistance between $3,600 and $3,650, and for a bullish trend and momentum to take hold, a confirmed breakout above $3,650 is necessary, which has not yet occurred. Ethereum has strong support around $3,420, based on previous lows, and if this support holds, more choppy sideways price action is expected, aligning with the analyst’s previous predictions. This sideways action consists of both short-term bullish and bearish movements but is occurring within a larger bearish trend.

The analyst also noted that Solana is still in a short-term bearish trend, despite experiencing a brief pause due to a short-term bullish divergence. As anticipated, Solana bounced from the $128 support level and then encountered resistance, facing multiple rejections in the $140 to $144 range. This area continues to act as strong resistance, while support remains between $120 and $128. Despite some expected choppy sideways price action, Solana’s short-term trend and momentum remain bearish. To shift towards a bullish trend, the analyst explained the need for a confirmed breakout above approximately $144, and ideally above $160, to instill confidence in a bullish reversal. For now, the outlook remains bearish in the short term.