Ethereum’s Next Move Could Be Determined by These Critical Price Levels

MakroVision, a cryptocurrency analysis firm, has highlighted critical price levels for Ethereum (ETH) that could determine its next direction.

The firm’s latest report explains that Ethereum faced a strong rejection at the red trendline during a corrective phase, which caused a significant drop below $2,880.

However, the cryptocurrency quickly recovered, similar to the broader market, suggesting the possibility of bullish momentum.

The analysis suggests that Ethereum must regain the $2,810 to $2,880 range to maintain its upward trajectory. If ETH holds above this level, it could pave the way for further gains.

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The $3,273 price point is also noted as a key resistance level. A breakthrough above this mark would signal a strong bullish shift, potentially leading to more upward movement.

MakroVision concludes that while Ethereum is still in a recovery phase, its future price performance will depend on successfully clearing these resistance levels.

A move above $2,880 in the short term would be crucial to sustaining momentum, while surpassing $3,273 could confirm a more pronounced bullish trend.

Alexander Zdravkov