Ethereum Price Rally Fades as Bearish Signal Emerges at $2,000
Ethereum's price rally has lost momentum after failing to break above the $2,000 resistance level. According to market analyst Ali Martinez, the TD Sequential indicator has turned bearish, suggesting that the recent upward move may be losing steam.
The ETH price stalled below $2,000 and traded near $1,883 on the four-hour chart after falling below its 20-period and 50-period exponential moving averages. The support level remains near $1,878, with the 200-period EMA around $1,844 as the next level.
Crypto Lens expects ETH to test $2,000 before another decline begins, with a projected downside range between $1,400 and $900. Meanwhile, Crypto Rover focused on the ETH/BTC pair, which has formed lower highs and lower lows against Bitcoin during the past year.