Cryptocurrency analysis firm MakroVision has published an assessment of the current state of Ethereum. According to the analysis, although the ETH price is showing signs of recovery after recent declines, the market still remains uncertain.
The latest sell-off has sent Ethereum’s price down to $1,730. A limited recovery has been observed in this area, but a clear trend reversal has yet to be confirmed, according to the analyst firm.
According to MakroVision's analysis, the critical levels to watch in Ethereum are as follows:
- $2,132: Short-term target area. Breaking this level will determine whether the recovery gains momentum.
- $2,550-2,600: A significant resistance point, both psychologically and technically. The falling trend line also passes through this level.
- $1,730: Support level that must be maintained to prevent Ethereum from falling further.
- $1,544: The last line of defense. Losing this level could be a strong bearish signal.
It is emphasized that as long as the Ethereum price remains below $ 2,132, the downtrend is dominant. According to the analysis, exceeding the $ 2,600 level will be a critical threshold for the trend to change completely.
*This is not investment advice.
