Ethereum Shows Early Signs of Recovery, But Key Resistance Levels Still Stand in the Way

Ethereum may be showing early signs of stabilization after dipping below $1730, according to a recent technical breakdown by crypto research firm MakroVision.

Ethereum (ETH) may be showing early signs of stabilization after slipping below the critical $1,730 support level, suggests a recent technical analysis by crypto research firm MakroVision.

While the asset is testing key liquidity zones and setting the stage for a potential short-term bounce, analysts suggest that a full trend reversal will require more convincing signals.

ETH’s RSI has reached extremely oversold levels, a situation not seen since August 2023.

However, there are also early indications that bearish momentum might be losing steam. MakroVision highlighted bullish divergences in the MACD and MVP indicators.

Still, the path to recovery isn’t straightforward. The analysis highlights that:

The $1,730 mark, previously acting as support, has now flipped into resistance.

Only a strong move above the $1,730 zone and its retest as support could set the stage for a broader shift in momentum.

In the mid-term, the $1,545 level may offer some short-term reaction potential.

The major liquidity pocket is still located in the $1,350-$1,250 zone, which could attract more buyers if the descent continues.

Despite these flickers of strength, Ethereum remains under significant technical pressure.

The report concludes that unless ETH breaks through the $2,132 zone and manages to close above it, the broader bearish trend remains in place.

Until then, any upward movement is likely to be viewed as a temporary relief rally rather than the start of a sustained recovery.