Ethereum (ETH) continues to capture the spotlight as it navigates a period of consolidation, with analysts closely monitoring its next big move. According to a recent technical review by MakroVision, Ethereum’s price action above the $2,400 mark is a positive sign, suggesting the asset is building a foundation for potential growth. Here’s what you need to know about the current landscape and what could be next for ETH.
Current Market Snapshot
Ethereum is currently trading in a range that reflects both resilience and anticipation. The $2,400 level stands out as a crucial support zone, with ETH maintaining its position above this threshold despite broader market fluctuations. This stability is seen as a constructive signal, indicating that buyers are stepping in to defend this price point .
Key Levels to Watch
• Support at $2,400: Holding above this level keeps the short-term outlook bullish. If ETH dips to this area, it may be viewed as a healthy correction rather than a sign of weakness .
• Major Resistance at $2,820–$2,880: This range has historically triggered strong selling pressure. A decisive break above could open the door to further gains .
• Deeper Support at $2,132: Should the market experience a sharper pullback, this is the next level to monitor for potential stabilization.
ETH technical analysis chart shared by MakroVision.
Potential Scenarios for Ethereum
MakroVision’s analysis suggests that if Ethereum can break through the $2,880 resistance, it could trigger a new rally with a target near $3,275. This aligns with broader market forecasts, which see ETH trading between $2,400 and $2,900 in the near term, with the possibility of testing higher levels as momentum builds .
On the flip side, any pullbacks toward $2,400 are not necessarily negative. Instead, they could represent opportunities for the market to reset before another upward move. If ETH were to fall below $2,400, the $2,132 level would become the next area of interest for buyers.
Market Outlook and Sentiment
Technical indicators remain supportive of a bullish trend, with analysts noting that Ethereum’s structure is underpinned by strong trading volumes and a healthy trend profile . The Relative Strength Index (RSI) and other momentum indicators suggest there is room for further upside, provided ETH can clear key resistance levels.
Looking ahead, forecasts for 2025 remain optimistic, with some analysts projecting that Ethereum could trade in the $2,700–$2,900 range through June, and potentially push toward $3,200 or higher if bullish momentum continues.
