Cryptocurrency analytics company MakroVision has shared its updated assessment of Ethereum’s short-term technical outlook. According to the analysis, Ethereum’s price is struggling to recover due to selling pressure encountered at critical resistance levels recently.
According to an assessment published by MakroVision, Ethereum has faced strong resistance, particularly at the $2,130 level, and has been rejected multiple times from this region. Analysts stated that this level is the most critical threshold to overcome in the short term, while the $2,400 level stands out as the next significant resistance area. A break above this region could lead to a more noticeable improvement in the market outlook.
On the support side, the $1,900 level is considered critical for the current price structure. According to the analysis, Ethereum’s ability to stay above this level will be decisive for short-term stabilization. However, a warning was issued that if $1,900 is broken downwards, selling pressure could accelerate and the price could retreat back towards the $1,730 region.
The analysis of the chart structure indicated that Ethereum has recently shown signs of a limited recovery by forming higher lows, but upward movements have consistently encountered selling pressure in resistance zones. This situation has created an uncertain outlook for the market.
According to MacroVision’s analysis, the short-term outlook will remain weak unless the Ethereum price permanently regains the $2,130 level. It is noted that a loss of the $1,900 support level, in particular, could significantly increase the downside risks in the markets again.
*This is not investment advice.
