Crypto analysis company MakroVision published an assessment on the current status of Ethereum. According to the analysis, while the ETH price shows signs of recovery after the recent get dumped, the market still maintains its uncertainty.
The latest sell-off has dumped the price of Ethereum to the level of $1,730. Although a limited recovery is expected with the reaction from this area, the analysis company states that a clear trend reversal has not yet been confirmed.
According to MacroVision’s analysis, the critical levels to watch in Ethereum are as follows:
- $2,132: Short-term target zone. Breaking this level will determine whether the recovery will gain momentum.
- 2,550-2,600 dollars: An important resistance level from both psychological and technical perspectives. At the same time, the descending trend line also passes through this level.
- $1,730: The support level that needs to be maintained for Ethereum to get dumped further.
- 1,544 dollars: Last line of defense. Losing this level could be a strong get dumped signal.
As long as the Ethereum price remains below 2,132 dollars, it is emphasized that the downward trend is dominant. According to the analysis, exceeding the 2,600 dollar level will be a critical threshold for a complete change in the trend.
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