Ethereum’s price action has caught the attention of traders as a rare technical signal emerges on the weekly chart. The TD Sequential indicator has flashed a buy signal, historically preceding significant price rallies for ETH.
Current Market Situation
ETH currently trades at $2,690, struggling below the crucial $2,800 resistance level. The market shows a clear division between bearish short-term sentiment and bullish long-term outlook. Large investors continue accumulating while retail traders express doubt.
Technical Analysis Deep Dive
The TD Sequential indicator has proven reliable for ETH in past cycles. When this indicator flashes a buy signal near the lower boundary of ETH’s long-term ascending channel, prices typically surge. The current setup mirrors these historical patterns.
Key price levels to watch:
- Immediate resistance: $2,800
- Major psychological level: $3,000
- Support zone: $2,500
Institutional Interest vs Retail Sentiment
While retail investors show hesitation, institutional players actively accumulate ETH. This divergence often precedes major market moves. Large players typically position themselves before significant price movements.
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Market Implications
A breakthrough above $2,800 could trigger a cascade of buy orders. The market structure suggests accumulation at current levels. Breaking $3,000 would confirm the bullish reversal pattern.
The next few weeks remain crucial for ETH’s trajectory. The TD Sequential signal’s historical accuracy adds weight to the bullish case. However, traders should watch for confirmation through volume and price action.
Tags: Ethereum, Technical Analysis, Crypto Trading, Market Analysis, TD Sequential
Source: NewsBTC