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What is the Latest Situation on Ethereum? According to the Analysis Company, if it breaks above this level, a rally may come!
Crypto analysis company MakroVision shared its new assessments regarding the current technical outlook of Ethereum's (ETH).
According to the analysis, Ethereum continues to follow a horizontal trend after its previous rise, but the technical structure still maintains its positivity.
According to MakroVision, Ethereum has successfully tested its support at the $2,400 level once again and continues to stay above this level. The price is currently moving horizontally just below a region that previously acted as resistance. Analysts indicate that this situation is a typical consolidation process and may be setting the stage for the next major move.
The important levels highlighted in the analysis are as follows:
MakroVision predicts that if the level of 2,880 dollars is broken, Ethereum could enter a new upward trend towards the level of 3,275 dollars. On the other hand, while a decline in price back to the level of 2,400 dollars technically would not pose a problem, it is warned that this situation could increase the risk of a downward breakout.
*It is not investment advice.
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