What’s Next for Ethereum? Analysis Firm Says, “This Level Must Be Maintained”

Cryptocurrency analysis firm MakroVision has published a new report assessing the current market structure of Ethereum (ETH). The report noted that the ETH price is still correcting within the falling trend channel (red lines) and is struggling to hold above the $3,727 support ￰0￱ have stepped in at this level several ￰1￱ to the analytics firm: In the short-term outlook, the $3,600 level is ￰2￱ to MakroVision, this area, along with the lower boundary of the channel, is key support. A break below this level could send the price towards the 0.5 Fibonacci retracement level, which is around $3,174. Meanwhile, it was noted that a break above $4,290 is needed for an upward ￰3￱ believe that breaking this level could spark new upward momentum, targeting $4,780 and ￰4￱ News: Elon Musk's Company SpaceX Moves Another Large Amount of Bitcoin - Here's the Possible Reason The conclusion of the MakroVision report included the following statements: Ethereum is currently consolidating above the 0.382 Fibonacci ￰5￱ $3,600 region stands out as the critical area that will determine whether the market will enter a deeper correction or head for a bottom formation. *This is not investment ￰6￱ Reading: What’s Next for Ethereum?

Analysis Firm Says, “This Level Must Be Maintained”