Cryptocurrency Analysis Company Makrovision shares a new assessment of the current technical outlook for Ethereum (ETH).
Analysis shows that Ethereum continues to have a lateral trend after its previous rise, but the technological structure remains positive.
According to Makrovision, Ethereum has once again tested its $2,400 support level again and held it above it. Prices are now traded sideways just below the area that previously acted as a resistance. Analysts note that this is a typical integration process and could set the stage for the next big move.
The key levels highlighted in the analysis are:
- $2,820 – $2,880: Strong resistance zone and recent lower height
- $2,400: Important Support Level – Short-term bullish sentiment remains valid as long as this level remains above
- $2,132: Important support for monitoring the possibility of pullbacks
Makrovision predicts that if the $2,880 level is broken, Ethereum will be able to enter a new uptrend at $3,275. Meanwhile, a price dropping back to $2,400 again is not technically a problem, but it warns that this situation could increase the risk of a downward break.
*This is not investment advice.
