Cryptocurrency analytics firm MakroVision has assessed the performance of Ethereum (ETH) in recent weeks.
The firm noted that Ethereum has remained relatively weak in the market at a time when many altcoins are showing recoveries. According to MakroVision, Ethereum is still forming lower highs, which does not provide a clear sign of a possible trend reversal. “Ethereum is still below the red trend lines and we cannot see a strong upward movement,” he said, adding that the situation is also weak in terms of technical analysis.
Ethereum, despite recovering from $1,400 levels, has failed to show upward momentum compared to assets like Bitcoin and Solana. It was noted that a break above the recent lows was needed for the rally to gain strength.
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Although the $1,730 level has been regained in the short term, the real important level for analysts is $2,132. According to analysts, breaking this level could pave the way for a possible trend change.
MakroVision identified the following as critical price levels:
- $1,730 – Short-term support, important to maintain
- $2,132 – Trigger level for a new bullish wave
- $2,370 / $2,410 – Resistance zones to be encountered in case of a possible bounce
*This is not investment advice.