Ethereum Rally May Be Over as Key Indicator Flips Bearish

Ethereum's recent rally has come to an end, according to a key technical indicator that predicted its substantial revival in early July. The TD Sequential metric, which has been successful in determining ETH's trend reversals, has now flipped bearish and is hinting at further trouble ahead.

Ali Martinez noted earlier today that the indicator has triggered a sell signal, suggesting investors may want to consider taking some profits off the table. This aligns with Crypto Lens' opinion that Ethereum has been stuck between $1,860 and $1,955 for a reason, as the bull trap is 'just getting started.'

Crypto Lens envisions a week or so of consolidation below $2,000 before the final leg down begins and drives the asset south to somewhere between $1,400 and $900. Once it cleanses the weak hands, ETH's next bull run can begin, with a target of $7,000.

Additionally, Crypto Rover believes that Ethereum has been charting new lower highs and lower lows against Bitcoin for the past year. He expects another rejection to come, which could drag it south to a fresh multi-year low of under 0.0235.