Cryptocurrency Analytics company Makrovision has shared the latest ratings for Ethereum (ETH) price action, revealing key technical levels that can determine the next market movement.
Ethereum shows signs of stability recently, but remains close to the recent lows as a sustained recovery has not yet been achieved.
Ethereum has continued to suffer performance compared to the broader crypto market after falling below the lowest level of ongoing signs of weakness since August 2024. However, Makrovision points out that (c) sharp corrections marked as waves may be the impact needed to build momentum for potential recovery.
Makrovision has identified two important zones of resistance that Ethereum needs to break to confirm bullish trends.
- $2,600 and the Red Trend Line – Short-Term Liquidity Zone. A break here could create the initial bullish momentum.
- $2,800- $2,880 – Main resistance area. Breaking this range is essential to shifting market sentiment in favor of bulls.
- $2,131 – This level of loss could indicate additional downside risk and could cause a deeper pullback into the lower liquidity zone.
Ethereum technical analysis chart shared by Makrovision.
*This is not investment advice.
