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 level. Buyers have stepped in at this level several times.
According to the analytics firm:
- In the short-term outlook, the $3,600 level is central. According 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 move. Analysts believe that breaking this level could spark new upward momentum, targeting $4,780 and above.
The conclusion of the MakroVision report included the following statements:
Ethereum is currently consolidating above the 0.382 Fibonacci retracement. The $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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Government Shutdown While the White House is Being Renovated: Who is Paying for Trump's $300 Million "Private Banquet Hall"?
U.S. President Trump has approved the demolition of the White House East Wing to build a large banquet hall funded by private donors, including Trump himself and several companies from the technology, defense, and crypto industries. This move has sparked controversy and criticism for allegedly using power to raise funds. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.
Powell Turns Hawkish: December Rate Cut Far from Certain, Government Shutdown May Force Fed to Hit the Brakes | Golden Ten Data
The Federal Reserve has cut interest rates by another 25 basis points and announced the end of quantitative tightening in December. During the press conference, Powell emphasized the necessity of "slowing the pace of rate cuts," prompting the market to quickly adjust its expectations and causing risk assets to decline across the board.
Bloomberg: $263 million in political donations ready as the crypto industry ramps up for the US midterm elections
This amount is nearly twice the maximum SPAC Fairshake invested in 2024, and slightly exceeds the total spending of the entire oil and gas industry in the previous election cycle.
PEPE Price Chart Signals Oversold Zone Reversal as RSI Turns Upward
Trending news
MoreCrypto prices
More
