Cryptocurrency Analysis Company Makrovision publishes the latest analysis of Ethereum’s recent price transfers. The report says Ethereum successfully completed its rise from $1,400, attracting attention with a 77% increase.
Makrovision said the bullish scenario that it had previously predicted had come to fruition. The price range between $1,295 and $1,525 is said to have served as a strong support zone, noting that Ethereum recovered by gaining strength from the region.
According to analysts, Eyes is currently focusing on the $2,405-$2,465 resistance zone. Ethereum has reached this zone, but analysis suggests that if this level is exceeded, it is possible to reach a higher price. In particular, the next target, known as the “Central Orange Region,” could pave the way.
In the short term, the $2,145 level will be monitored as the first support point. Below this level, the $1,944 level could play a key role.
Makrovision points out that Ethereum has made a strong comeback to the market. However, breaking the current zone of resistance is critical to continuing the rise. Otherwise, a short-term revision movement may be on the agenda.
ETH Technical Analysis Chart shared by Makrovision.
*This is not investment advice.