Cryptocurrency Analytics company Makrovision has evaluated the performance of Ethereum (ETH) in recent weeks. The company noted that Ethereum remains relatively weak in the market as many altcoins show a recovery.
According to Makrovision, Ethereum still forms a lower high, but this does not provide a clear indication of a possible trend reversal. “Ethereum is still below the red trendline and we can’t see a strong upward movement,” he said, adding that the situation is weak in terms of technical analysis and the situation.
Despite recovering from the $1,400 level, Ethereum was unable to show upward momentum compared to assets such as Bitcoin and Solana. It was noted that for the rally to gain strength it would need to exceed the recent low low low values.
The $1,730 level has been regained in the short term, but the actual key level for analysts is $2,132. Analysts say breaking this level could pave the way for a possible change in trends.
Makrovision has identified the following as key pricing levels:
- $1,730 – Short-term support and maintenance are important
- $2,132 – New bull wave trigger level
- $2,370/$2,410 – Resistance zone you encounter if you have a chance of bounce
*This is not investment advice.
