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What is the Latest Situation with Ethereum? Analysis Company Claims that Breaking This Level Will Open the Door to ATH
Cryptocurrency analysis firm MakroVision published an updated assessment for Ethereum (ETH) stating that the price has reached a key resistance zone and the first signs of weakness are visible.
According to the analysis, Ethereum reached around $3,730, touching a strong resistance zone in the $3,727–$3,965 range, which has historically played a crucial role in price movements.
At the time of writing, the ETH price is trading at $3,650.
According to the analyst firm, the strong uptrend since the May low remains in place. However, Ethereum is currently facing significant resistance, making a short-term pullback towards $3,270 likely. A sustained break above $3,965 could open the door for the price to push towards a new all-time high.
MakroVision concluded its ETH analysis as follows:
“A pullback after a strong rally would be technically sound. However, a price breakdown below $3,270 would bring the risk of a deeper correction.”
*This is not investment advice.
