Ethereum

Solana

Bitcoin

Momentum

<ul>
 <li>Ethereum struggled to break the $2,250 resistance, facing multiple rejections between $2,200 and $2,270.</li>
 <li>Bitcoin surges to past $43,600 raised concerns for Ethereum bulls.</li>
 <li>SOL revisited $84 for the first time since May 2022, signaling a continued upward trend.</li>
</ul>
In Wednesday’s trading session, Ethereum experienced a modest rally, displaying sustained upward momentum from the lower boundary of a significant <a href="https://thenewscrypto.com/ethereum-battles-for-stability-can-bulls-turn-the-tides/" target="_blank" rel="noopener noreferrer nofollow">consolidation range</a>. However, the cryptocurrency faced hurdles around the $2,250 and $2,300 resistance levels, struggling to find a foothold above $2,250. Also, Ethereum encountered multiple rejections in the $2,200 to $2,270 range.
While Ethereum grappled with resistance, Bitcoin managed to surge over 2% within the last 24 hours, reaching $43,542. This rise in Bitcoin’s price, surpassing the $43,600 resistance, serves as a potential warning signal for Ethereum bulls. Despite Ethereum’s attempt to breach the $2,300 barrier, it failed to settle above $2,250, leading to concerns about a significant downturn.
<h3 class="wp-block-heading" id="h-ethereum-s-momentum-halts-at-2200">Ethereum’s Momentum Halts at $2200</h3>
According to the daily price chart, Ethereum’s recent low settled near $2,162, and the current trend indicates consolidation above $2,200. A critical bullish trend line, offering support around $2,180, has formed on the hourly ETH/USD chart. However, Ethereum is currently trading above $2,200 but below the 100-hourly simple moving average.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="512" src="https://thenewscrypto.com/wp-content/uploads/2023/12/image-32-1024x512.png" alt="" class="wp-image-87900" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/image-32-1024x512.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/12/image-32-300x150.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/12/image-32-768x384.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/12/image-32.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Ethereum (ETH) Price Chart (Source: TradingView)
 </figcaption>
 </figure>
</div>
On the upside, ETH is facing immediate resistance near $2,210. Ethereum’s next crucial resistance levels lie at $2,250 and $2,280. A decisive move beyond $2,280 could propel the price toward $2,350, with further gains opening the door to the $2,400 level. Subsequent breakthroughs might <a href="https://thenewscrypto.com/ethereum-eyes-3500-as-breakout-zone-beckons-retesting/" target="_blank" rel="noopener noreferrer nofollow">trigger a rally</a> towards $2,600, and if sustained, Ethereum could test the $3,000 zone.
Conversely, if Ethereum fails to overcome the $2,250 resistance, it might initiate a downward spiral. Initial support is evident at $2,170, followed by a more critical level at $2,120. A close below $2,120 could trigger more bearish movements, possibly revisiting the $2,000 support. Extended losses might lead Ethereum toward the $1,800 level.
Meanwhile, in the altcoins arena, Solana (SOL) has emerged as a <a href="https://thenewscrypto.com/solana-continues-to-be-bullish-but-will-it-sustain/" target="_blank" rel="noopener noreferrer nofollow">surprise front-runner</a> in the 2023 market. Outperforming significant altcoins such as Cardano (ADA) and Ripple’s XRP. Following this, experts are now speculating that Solana could potentially outshine Ethereum in the near future, marking a significant development in the crypto market.

Ethereum Struggles at $2300 While Bitcoin and Solana Gain Momentum

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