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ETH Ethereum price momentum slows down, TD series indicators send bearish signals
Ethereum price momentum seemed to slow down on Monday after its recent gains, with a key technical indicator suggesting a possible reversal. As of 20:00 Beijing time, the trading price of ETH was US$1,903.09, the 24-hour trading volume reached US$15.91 billion, and the market value was approximately US$229.79 billion. The daily price increase was only 0.02%, remaining stable after a round of upward movement.
Technical indicators predict cooling momentum
Well-known cryptocurrency analyst Ali Martinez pointed out that TD series indicators have recently changed. Martinez said the indicator had previously sent a buy signal at Ethereum at around $1,500, before the price rebounded 31.5%. After this significant increase, ETH is now hovering around $1,980, and the TD series indicator has issued a sell signal.
TD series indicators are often used by traders to identify potential market turning points. This indicator had previously accurately captured the bottom, but now it warns caution. Despite this, Ethereum remains above key technology thresholds.
The current trading price of Ethereum is US$1,884.35 above the middle track of the Bollinger Band, with the upper track at US$1,968.57 and the lower track at US$1,800.12. Continuing to operate above the mid-track indicates that bullish sentiment still exists, but facing upward pressure, ETH needs to exceed US$1,968.57 to regain upward momentum.
The MACD indicator further strengthens cautious expectations. The MACD line reported 36.14, which is lower than the signal line 38.86, and the histogram is-2.72. Although the MACD is still above the zero axis, indicating an overall increase, the indicator line falling below the signal line indicates that buying pressure is weakening.
Possible next move for Ethereum
Ethereum is approaching the key resistance zone of US$1,968 to US$1,980. If this range can be effectively broken through, it may open up space for a new round of gains and accelerate the momentum of the world's second largest cryptocurrency.
If ETH fails to break through and selling pressure increases as a new sell signal appears in the TD series indicator, the price may fall back to the support level near US$1,884 in the middle of the Bollinger Band. These levels will determine the tone of the next few trading days and may reveal whether Ethereum's rally continues or pauses.
Ali Martinez emphasized that although the TD series indicator accurately indicated buying opportunities at $1,500, the current bearish signal near $1,980 deserves traders 'close attention to manage risk in the short term.
Investors are paying close attention to market catalysts for signs of continued trend. Technical chart signals are mixed, with analysts warning that Ethereum's short-term trend remains uncertain until it breaks through important resistance levels.
Although Ethereum's long-term prospects remain optimistic, the next trading session will help clarify whether this round of bullish momentum can continue.
