ETH Price Stalls as Technical Indicators Flip Bearish

The Ethereum (ETH) price has been on a rollercoaster ride in recent months. In July, it plummeted to a multi-year low of around $1,520 but rebounded with a major monthly rally that drove ETH to nearly $2,000 last week.

However, the asset's run was halted at this level and now faces trouble ahead according to technical indicators. The TD Sequential, a metric used to determine potential exhaustion moves in either direction, has been quite successful in determining ETH's trend reversals. It flashed a buy signal back in early July when Ether slumped to its multi-year low.

Now, though, the indicator has flipped to a sell signal, suggesting that investors might consider taking some profits off the table. This is echoed by popular analyst Crypto Lens who believes that Ethereum has stuck between $1,860 and $1,955 for a reason, as the bull trap is 'just getting started.'

Crypto Lens' scenario envisions a week or so in consolidation below the $2,000 level before the final leg down begins. This could drive the asset south to somewhere between $1,400 and $900. The analyst predicts that once ETH cleanses the weak hands, its next bull run can begin, with a target of $7,000.