Ethereum Price Analysis: ETH Price Rally Fades as Bearish Signal Emerges
TLDR
- ETH price stalled below the $2,000 resistance after rising from nearly $1,520.
- The TD Sequential indicator flipped to a sell signal after calling Ethereum’s July rebound.
- Ethereum traded below the 20-period and 50-period EMAs on the four-hour chart.
- Support remained near $1,878, with the 200-period EMA around $1,844 as the next level.
- Ethereum open interest fell from about $13.47 billion to nearly $13.31 billion.
Ethereum’s rebound is losing strength after the ETH price failed to break above the $2,000 level. The asset rose from about $1,520 in early July to nearly $1,980 last week. That move marked its highest level in several months.
The rally has slowed as traders watch a bearish signal from the TD Sequential indicator. The same tool flashed a buy signal near the July low before Ethereum recovered. It has shifted to a sell signal as ETH trades below key short-term levels.
TD Sequential Turns Bearish After ETH Rally
Market analyst Ali Martinez said the TD Sequential has tracked recent Ethereum reversals closely. The indicator showed a buy setup when ETH fell near $1,520. Ethereum then gained sharply and moved toward the $2,000 resistance zone.
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