Is the Deep Decline in Ethereum (ETH) Coming to an End? Analytics Firm Shares Critical Price Levels to Overcome

Cryptocurrency analysis firm MakroVision has released its latest assessment of Ethereum (ETH), revealing key price levels that could determine the asset’s next move.

According to MakroVision, Ethereum faced a strong rejection at the red trendline during an impulsive wave (c), which led to a sharp drop below $2,880. However, like the broader crypto market, ETH also staged a rapid recovery following the sell-off, hinting at potential bullish momentum.

The analytics firm has identified the key levels for the Ethereum price as follows:

• $2,810-2,880 – A critical area that Ethereum needs to regain to continue its upward momentum. Holding above this range could pave the way for more gains.
• $3,273 – A key resistance level with high liquidity that is closely aligned with the red trendline. A break above this level would be a strong bullish signal, potentially opening the door for further price gains, the analyst firm believes.

MakroVision notes that Ethereum remains in a recovery phase, but its bullish outlook is dependent on clearing key resistance levels. In the short-term, a successful move above $2,880 would be crucial to maintain momentum, while a breakout above $3,273 could confirm a strong bullish scenario.

*This is not investment advice.