Ethereum Historical Indicator Flashes Long-Term Buy Signal – Is History Repeating?
Ethereum has struggled for days of $2,800 and cannot get support for the recovery of the rally. This key level remains a major obstacle for the Bulls, and bearish sentiment is growing as prices continue to consolidate below them. Many analysts have called for a continued downward trend, reflecting the downward sentiment in the market. Investors once believed Ethereum would gather with Bitcoin this year and now show signs of skepticism.
Related Readings
However, not everyone is bearish. Some investors remain optimistic, pointing out that Ethereum may be preparing for the recovery phase. Crypto analyst Ali Martinez recently shared a technical analysis showing that the TD sequential metric flashes a buying signal on Ethereum’s weekly chart. Historically, this rare event indicates the beginning of a trend reversal. Martinez noted that Ethereum often has a strong upward momentum whenever this indicator is triggered over the weekly timeframe, indicating a potential bullish phase.
As Ethereum hovers below $2,800 resistance, businessmen and investors are watching closely. If the history records are self-repeatable and the TD sequential signal proves accurate, Ethereum might be surprised The market has a positive price level.
Ethereum prepares for recovery phase
Ethereum is testing key liquidity below $3,000, which analysts believe will determine how Ethereum performs in the next few weeks. This level has become a battlefield between bulls and bears, and sentiment in the market is still high.
Retail investors lose confidence in the potential for near-term recovery and continue to sell, causing pressure to decline prices. Meanwhile, larger players appear to be using the dip angle to accumulate Ethereum at an accelerated rate, indicating confidence in the long-term potential of assets.
Martinez recently shared Technical analysis on Xemphasizing the important historical model of Ethereum’s weekly charts. Martinez pointed out that every time the TD sequence indicator flashes a buy signal near the lower boundary of Ethereum’s long-term upward channel, the price has rebounded with strength from history. The indicator is widely used by traders to discover trend reversals, indicating that Ethereum may be approaching a critical moment.
According to Martinez, a similar setup is now unfolding as Ethereum consolidates slightly below key resistance levels. If the TD sequential signal plays like in the past, Ethereum may prepare for a powerful recovery rally. Retrieving the $3,000 level and using it as support will mark the first step to reverse the bearish trend and launch a long-term uptrend. As investors pay attention to signs of breakthroughs or further declines, the next few weeks will be crucial to Ethereum.
Related Readings
ETH consolidates before big
After several days of side trading and market hesitation, Ethereum (ETH) trades at $2,690. This period of stagnation has caused investors to speculate on the short-term direction of ETH as sentiment is still split between bullish recovery and further downside potential. The lack of momentum above the key resistance level leads to uncertainty, with both the Bulls and the Bear working on decisive control.
In order for Ethereum to launch a recovery in uptrend, the Bulls must regain $2,800 in support. This critical level has become a key hurdle in recent weeks and beyond it will pave the way toward the $3,000 mark. A successful move over $3,000, a level of psychological and technical resistance, will confirm the reversal of the downtrend and build bullish momentum in the market.
Related Readings
However, if ETH fails to recover the $2,800 level, there is a risk of further disadvantages. The answer may reduce the price to around $2500, where stronger support can be found. The next few trading sessions will be crucial as Ethereum price action may determine market sentiment and affect its short-term trajectory. As the market remains uncertain, investors are closely watching decisive breakthroughs or further consolidation.
Featured images from DALL-E, charts from TradingView
