The Fate of Ethereum is Being Determined: Analysis Company Reveals Price Levels and Resistances That Must Be Protected

Cryptocurrency analysis firm MakroVision published a new evaluation regarding Ethereum's price movement, evaluating whether the asset is on the verge of reversing the trend or facing another decline.

After a sale and subsequent recovery, Ethereum is trading below important resistance levels, moving sideways. MakroVision's latest analysis highlights several critical factors that could determine Ethereum's next move:

• The slight downward movement in the last 10 days seems to be corrective rather than impulsive, which could be a bullish signal.
• Ethereum price indicated short-term stabilization by holding the 0.5 Fibonacci retracement level at $2,520.
• $2,850 : A key resistance level with significant liquidity. A breakout here could signal the first upward move.
• 3.273 dollars: Critical breakout level. A move above this could bring Ethereum back to a medium-term uptrend.
• 2.520 dollars (0.5 Fibonacci retracement): Continues to be an important short-term support.
• $2,360 - $2,410: A strong support area with high liquidity and the Gold Pocket zone. This level must be maintained to prevent further decline.

At the time of writing this article, the ETH price is trading at $2,710.

According to the analysis firm, Ethereum is showing signs of stabilization, but a break above $2,850 is required to reveal further upward potential. If this level is not surpassed, the risk of testing lower support zones remains high.