Cryptocurrency analysis firm MakroVision has shared its latest technical analysis of Ethereum. According to the company’s analysis, Ethereum successfully retested the $2,130 level and continued its short-term recovery process for some time.
However, strong selling pressure was encountered after reaching this level, making it difficult for the price to sustain a position above this region.
Macrovision notes that while a short-term recovery is technically still valid given the current market structure, momentum has weakened recently. The analysis added that the failed attempt to break above $2,130 indicates continued upward selling pressure. This situation is said to make price fluctuations more sensitive in the short term.
The company highlights key technical levels and points out that the $2,130 range is an important threshold for Ethereum. If the price manages to sustain above this level, $2,400 could emerge as the next major resistance level and another attempt to move higher could be on the horizon. It is noteworthy that this region was strongly rejected during the last ascent attempt.
However, some warn that if Ethereum clearly breaks below the $2,130 level, the current recovery could weaken and the market outlook could worsen again. According to MacroVision, this scenario increases the risk that the recent uptrend is merely a technical reaction rather than a permanent trend reversal.
*This is not investment advice.
