Recent analysis from MakroVision reveals that Ethereum (ETH) has entered a key resistance zone, suggesting potential correction movements in the near future. This article examines the key aspects of this analysis.
Key Resistance Levels of Ethereum
Analysts from MakroVision noted that the price of Ethereum reached around $3,730, which is close to a strong resistance zone in the $3,727–$3,965 range. This area has historically played a significant role in ETH price movements.
Short-term Correction Prospects
At the time of writing, ETH is trading at $3,650. However, the analysis suggests a likelihood of a short-term pullback toward $3,270. Should the price break above the upper level of $3,965, it could open the door for a new all-time high.
Conclusion and Analyst Recommendations
MakroVision concluded their analysis with the statement: 'A pullback after a strong rally would be technically sound. However, a breakdown below $3,270 would bring the risk of a deeper correction.'
The market analysis of Ethereum indicates that the current price pressure may signal future changes. Investors should pay attention to key levels that could impact ETH’s further dynamics.
