Ethereum has faced significant selling pressure in recent weeks and has repeatedly tested lower support levels. According to the latest analysis by crypto research firm MakroVision, ETH has not seen a strong buying reaction so far. The key question now is whether Ethereum has formed a bottom or if the decline will continue.
Analysis shows that Ethereum has dropped below multiple support zones and is revisiting deeper liquidity areas. Despite the brief stabilization, no sustained buying momentum has been seen, leaving the risk of further declines high.
Analysts list the key critical price zones for ETH as follows:
- $2,132: First major hurdle. Ethereum must reclaim this level to start a potential recovery.
- $2,400: A critical area with descending trend lines. Breaking above this level could signal a trend reversal.
- $1,730: This level has held so far, but another test could weaken the support.
- $1,544: The lowest liquidity zone, likely the next target if Ethereum breaks below $1,730.
At the time of writing, ETH is trading at $1,939.
*This is not investment advice.
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