Cryptocurrency analytics platform MakroVision has released its latest assessment of Ethereum, noting its continued weakness following the recent market sell-off.
Ethereum is currently trading well below the $3,273 level, with the drop largely attributed to the uncertainty surrounding DeepSeek as explained in the platform’s weekly report.
Key resistance levels according to analysts:
- $3,273: This level broke to the downside and now acts as a short-term resistance.
- Red Trendline: Ethereum remains in a downtrend and a breakout of this area could signal the beginning of a bullish reversal.
Key support levels:
- $2,960-$3,030: Described as a strong liquidity zone that has already been lightly tested.
- $2,810-$2,880: Known as the “golden pocket” (.618 Fibonacci retracement level), this area is a key support group for bullish traders. A drop below this area could jeopardize Ethereum’s broader bullish structure.
According to the analyst firm, a recovery of $3,273 is necessary for any recovery.
*This is not investment advice.
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