A new technical analysis from MakroVision presents the current status of Ethereum in the cryptocurrency market, noting its recovery above $2400.
Current Market Situation for Ethereum
According to the latest technical analysis from MakroVision, Ethereum has managed to rebound, reaching levels above $2400. Analysts suggest that the current price action hints at a possible recovery, though it is still too early to call a definitive trend. The market structure remains neutral, with neither bulls nor bears in clear control.
Growth Prospects and Key Levels
If Ethereum can maintain momentum above $2400, the next area of interest lies between $2740 and $2880, which could be tested in the near future.
Market Risks
MakroVision warns, however, that losing the $2130 support would flip the outlook bearish and could open the door for a drop toward the $1730 zone — a level not seen in months. At this stage, Ethereum is walking a tightrope: if it holds above $2400, upside targets remain viable; if it falls back under $2130, the risk of a larger correction returns.
Thus, Ethereum's future hinges on its ability to hold current levels. If it maintains above $2400, further price increases may be possible.
