Cryptocurrency analytics firm MakroVision has shared its latest assessment of Ethereum’s (ETH) price action, revealing key technical levels that could determine the next market move.
Although Ethereum has shown signs of stability in recent days, it remains close to recent lows as a sustained recovery has yet to materialize.
Ethereum continues to underperform relative to the broader crypto market after falling below its lowest level since August 2024 in a sign of ongoing weakness. However, MakroVision notes that the sharp correction, marked as a (C) wave, could be a necessary jolt to build momentum for a potential recovery.
MakroVision has identified two critical resistance zones that Ethereum needs to break to confirm its bullish trend:
- $2,600 and the red trendline – A short-term liquidity zone. A break here could generate initial bullish momentum.
- $2,800-$2,880 – A major resistance area. Breaking this range is essential to shift market sentiment in favor of the bulls.
- $2,131 – A loss of this level could signal further downside risk, triggering a deeper pullback into lower liquidity zones.
Ethereum technical analysis chart shared by MakroVision.
*This is not investment advice.
