Whats the Current Situation with Ethereum? According to an Analysis Company, a Rally Could Come if This Level is Exceeded

Cryptocurrency analysis company MakroVision has shared its new assessments regarding the current technical outlook of Ethereum (ETH).

According to the analysis, Ethereum continues to follow a sideways trend after its previous rise, but the technical structure still remains positive.

According to MakroVision, Ethereum has successfully tested the $2,400 support level once again and is holding above it. The price is currently trading sideways just below an area that previously acted as resistance. Analysts note that this is a typical consolidation process and could be setting the stage for the next big move.

The important levels highlighted in the analysis are as follows:

• $2,820 – $2,880: Strong resistance zone and recent lower high
• $2,400: Important support level – Short-term bullish sentiment remains valid as long as this level remains above
• $2,132: Key support to watch for possible pullbacks

MakroVision predicts that if the $2,880 level is broken, Ethereum could enter a new uptrend towards $3,275. On the other hand, although it would not technically be a problem if the price fell to $2,400 again, it warns that this situation could increase the risk of a downward break.