What is the Latest Situation on Ethereum? According to the Analysis Company, if it breaks above this level, a rally may come!

Crypto analysis company MakroVision shared its new assessments regarding the current technical outlook of Ethereum's (ETH).

According to the analysis, Ethereum continues to follow a horizontal trend after its previous rise, but the technical structure still maintains its positivity.

According to MakroVision, Ethereum has successfully tested its support at the $2,400 level once again and continues to stay above this level. The price is currently moving horizontally just below a region that previously acted as resistance. Analysts indicate that this situation is a typical consolidation process and may be setting the stage for the next major move.

The important levels highlighted in the analysis are as follows:

• 2,820 – 2,880 dollars: Strong resistance area and the last seen lower peak point
• $2,400: Significant support level – As long as the price remains above this level, the short-term bullish expectation remains valid.
• 2.132 dollars: Key support to be monitored during possible pullbacks

MakroVision predicts that if the level of 2,880 dollars is broken, Ethereum could enter a new upward trend towards the level of 3,275 dollars. On the other hand, while a decline in price back to the level of 2,400 dollars technically would not pose a problem, it is warned that this situation could increase the risk of a downward breakout.

*It is not investment advice.

Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, start live price tracking by downloading our Android and IOS applications right away!