#Is there any chance ETH catches up BTC momentum?

In the cryptocurrency markets, Ethereum (ETH) faces turbulent conditions as it struggles to surpass the $3,440 resistance level. Currently trading around $3,272, ETH encounters challenges in breaching this crucial threshold. However, recent trends indicate a potential for further downside if Ethereum continues to trade at lower levels, particularly if it breaks below the $3,250 support level. Ethereum finds itself locked in a battle to ascend above the $3,370 and $3,440 levels, yet it trades below the $3,380 level and the 100-hour Simple Moving Average.

A closer examination of the ETH/USD pair's hourly chart reveals a significant break below the crucial uptrend line below the $3,300 support. Consequently, the possibility of increased losses should not be overlooked if there's a closure below the $3,250 support region. While Ethereum recently witnessed a recovery wave above the $3,300 and $3,320 levels akin to Bitcoin, attempts to breach the $3,400 level have been met with resistance from bears near the $3,440 region.

Although a new high formed around $3,443, a significant break below the major uptrend line below the $3,300 support was observed on the hourly chart. This development tempered gains, prompting a retest of the $3,250 support, with prices dipping to $3,253 before consolidating current losses. As Ethereum navigates these price fluctuations, its ability to sustain upward momentum hinges on overcoming key resistance levels and maintaining crucial support zones.