The altcoin market is experiencing significant volatility, with Ethereum and Solana being closely watched by analysts. Ethereum faces resistance at $3,480, with support at $3,350, while Solana tests resistance at $140-144, with potential to rise to $160.

According to Crypto World analyst Josh, Ethereum's price is struggling to break through the Fibonacci level at $3,480, which previously acted as support. However, the cryptocurrency has bounced from the 50% retracement level to around $3,350, which now serves as support. Additional support can be found in the $3,180 to $3,220 range.

On the 12-hour chart, a bullish divergence is forming, indicating a potential short-term relief or horizontal movement. However, a breakout above key resistance levels is needed to confirm an uptrend. Ethereum faces resistance around $3,450 and between $3,600 and $3,650, known as the golden pocket resistance. Support is around $3,300.

Solana's technical data shows a new breakout above the resistance at $140-144, which is currently being retested. If Solana holds above $140, it could establish a new support level and potentially lead to a rise towards $160. However, if it fails to stay above $140, it could fall to the $120-128 range.

In conclusion, the performance of Ethereum and Solana will be crucial in determining the direction of the altcoin market. While they face significant resistance levels, a breakout could lead to a new uptrend. Investors should conduct their own research and be aware of the high risks involved in cryptocurrency investments.