$ETH
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According to MakroVision’s analysis, Ethereum’s breakout above the key resistance area around $2,400 and the red falling trendline was a clear positive signal for the market. The subsequent rally is described as an impulsive “V-shaped” recovery. The declines seen so far are merely corrections and are not enough to disrupt the uptrend.
The analysis indicates that the initial profit takings following the rally are technically a healthy pullback. Currently, the $2,400 level stands out as short-term support. However, if the price drops below $2,130, the current positive structure may be disrupted and a new assessment may be required.
