What Does the Future Hold for Ethereum? Analysis Firm Reveals the Level That Must Be Protected and the Target in a Rally

Cryptocurrency analytics firm MakroVision has published an updated analysis of Ethereum’s technical outlook. The firm notes that Ethereum is consolidating above the $2,400 level and that sideways movement in this region could be part of a healthy uptrend. According to MakroVision, Ethereum gained new momentum by managing to stay above the red falling trend line. The consolidation above the $2,400 level is considered positive from a technical perspective. According to the analytics company, the critical levels for ETH are listed as follows: $2,820-$2,880: The most important resistance area ahead. These levels have faced strong selling pressure in the past. $2,400: Current support zone. Holding this level maintains short-term bullish outlook. $2,132: Key support level to watch in case of a deeper correction. ETH technical analysis chart shared by MakroVision. Related News: White House Officials Speak Out Following Developments in US-China Trade Tensions: Will the 145% Tariff Be Reinstated? MakroVision predicts that if Ethereum breaks the $2,880 resistance, a new upward wave towards $3,275 could begin. On the other hand, it is argued that pullbacks to $2,400 could be considered a constructive correction. *This is not investment advice. Continue Reading: What Does the Future Hold for Ethereum? Analysis Firm Reveals the Level That Must Be Protected and the Target in a Rally

Source: BitcoinSistemi