Ethereum Sell Signal Flashes as Rally Falters

Ethereum (ETH) has flashed an alarming sell signal after a roughly 30% rally that started when the cryptocurrency hit lows near $1,500.

This is according to top on-chain analyst Ali Martinez, who warned early on July 31 that the TD Sequential indicator had flipped to a sell signal as ETH approached levels close to $1,980.

The same indicator had previously called the Ethereum rally, flashing a buy signal near $1,500 and predicting a 31.5% move higher before the recent highs just under $2,000.

Ethereum is currently trading around $1,881.41, below its nearest support zone at $1,897.27 and threatening to breach $1,875.28.