Ethereum Rally Falters Amid Bearish Signal from TD Sequential Indicator
Ethereum's recent rally has weakened due to a bearish signal from the TD Sequential indicator, which suggests that bullish momentum is fading. The cryptocurrency slipped below $1,900 after failing to hold above it, indicating growing weakness in the market.
The TD Sequential indicator identified a buying opportunity near July's low and signaled a sell opportunity later on, flashing a warning for traders. Ethereum's price has struggled below the important $2,000 resistance level, and analysts warn that another rejection could trigger a deeper price correction.
Several key support levels are being watched by traders, including the 100-period Exponential Moving Average near $1,878 and the 200-period Exponential Moving Average around $1,845. Analysts see more downside risk ahead, with some predicting a potential decline to $1,400 or even $900 if bearish momentum accelerates.