Cryptocurrency analysis firm MakroVision has released its latest assessment of Ethereum (ETH), revealing key price levels that could determine the asset’s next move.
According to MakroVision, Ethereum faced a strong rejection at the red trendline during an impulsive wave (c), which led to a sharp drop below $2,880. However, like the broader crypto market, ETH also staged a rapid recovery following the sell-off, hinting at potential bullish momentum.
The analytics firm has identified the key levels for the Ethereum price as follows:
- $2,810-2,880 – A critical area that Ethereum needs to regain to continue its upward momentum. Holding above this range could pave the way for more gains.
- $3,273 – A key resistance level with high liquidity that is closely aligned with the red trendline. A break above this level would be a strong bullish signal, potentially opening the door for further price gains, the analyst firm believes.
MakroVision notes that Ethereum remains in a recovery phase, but its bullish outlook is dependent on clearing key resistance levels. In the short-term, a successful move above $2,880 would be crucial to maintain momentum, while a breakout above $3,273 could confirm a strong bullish scenario.
*This is not investment advice.
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