Cryptocurrency Analysis Company Makrovision evaluated recent price transfers for Ethereum (ETH).
According to a technical analysis report issued by the company, Ethereum showed a strong rise and broke poor trends by maintaining a bullish outlook in the short term.
According to Makrovision’s analysis, the breakout above the main resistance region of Ethereum was around $2,400, and the red falling trend was a clear positive signal for the market. The subsequent rally is called impulsive “V-shaped” recovery. The decline seen so far is merely a correction and is not sufficient to disrupt the uptrend.
The analysis shows that the acquisition of the initial profit after the meeting is a technically sound pullback. The $2,400 level currently stands out as short-term support. However, if the price falls below $2,130, the current positive structure may be destroyed and a new valuation may be required.
Makrovision also listed the next zone of resistance that Ethereum could face.
- Range of $2,800-$2,880: These levels, which previously served as support, are now seen as resistance.
- $3,275: If upward momentum continues, target the next major level.
*This is not investment advice.
