Crypto analysis firm MakroVision has released a new report on the technical state of Ethereum, focusing on key levels and market conditions.
Ethereum Market: Current Position
According to the report, Ethereum's price has shown signs of recovery by holding onto the $2,130 level after falling. ETH tested a key support area and rebounded strongly from it.
Price Predictions for ETH
MakroVision noted that the overall market structure has not yet determined a clear direction, meaning that neither an upward breakout nor a structural breakdown has been observed. However, if Ethereum can hold above $2,400, it could lead to price acceleration towards the $2,740–$2,880 range.
Risks and Key Support Levels
It was emphasized that persistence above the $2,400 level is required for the upward movement to continue. However, a possible breakdown below $2,130 brings the risk of a deeper correction that could pull Ethereum's price back to around $1,730.
Thus, the MakroVision report highlights the importance of support levels and warns investors about potential risks due to the unstable market situation.
