Ethereum Sell Signal Triggers After 31% Price Rally

A sell signal has been triggered for Ethereum (ETH) after its recent 31% price rally, according to the TD Sequential indicator. This technical indicator had previously predicted the buying opportunity of ETH and was responsible for calling the bottom in July at around $1,500.

The TD Sequential indicator is an advanced technical analysis tool that attempts to detect trend exhaustion and reversal points. After correctly predicting the recent price surge, it has now given a sell signal with ETH hovering near the $1,980 mark.

Despite this new development, Ethereum still trades above its key support level, indicated by the middle Bollinger Band of $1,884.35. However, to improve the bearish trend, ETH needs to break through the resistance range of $1,968-$1,980.