Is ETH’s Rally Over? The Key Indicator That Called Ethereum’s Run Just Flipped Bearish

The largest altcoin by market cap rode the recent minor bullish wave in the cryptocurrency market, surging from just over $1,500 to almost $2,000 to mark a multi-month peak.

However, it stalled there as it couldn’t breach that psychological level. Moreover, the same technical tool that predicted the substantial revival has now flipped bearish.

Is ETH in Trouble?

According to Ali Martinez, the TD Sequential, a metric used to determine the underlying asset’s potential exhaustion moves in either direction, has been quite successful in determining ETH’s trend reversals. Back in early July, when Ether slumped to a multi-year low at around $1,520, it flashed a buy signal. This was followed by a major monthly rally that drove ETH to $1,980 last week.

As mentioned above, though, the asset’s run was halted at that level, and the TD Sequential is hinting at further trouble ahead. Martinez noted earlier today that the indicator has flipped to a sell signal and suggested that investors might consider taking some profits off the table.

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