Ethereum holds steady above $1770, TD Sequential indicator signals possible pullback

Ethereum held steady above US$1770, and the TD Sequential indicator sent a correction signal.

Ethereum's current trading price is about US$1793. After many failed attempts to exceed US$1820, market sentiment has become cautious. The cryptocurrency continues to be in a range volatility, and buyers have not yet formed clear rebound momentum to reverse the recent decline.

Key price ranges dominate short-term trends

The price range of US$1770 to US$1800 has become a key area to determine the direction of Ethereum. If the price can remain above US$1770, it is expected to stabilize and provide opportunities for subsequent upside. However, analysts warned that once Ethereum falls below $1770, market demand may weaken, triggering a decline towards $1700.

To restore bullish sentiment and push Ethereum out of the current consolidation stage, a decisive breakthrough must be achieved and firm above $1820. If this breakthrough is not achieved, the market may continue to consolidate sideways and even face further downward pressure.

Market observers pointed out: "A strong breakthrough of $1820 will help revitalize bullish confidence, while continued obstruction may push the market into consolidation or lead to further declines. "While Ethereum is currently in a position that allows it to fluctuate around key resistance and support levels, investors are paying close attention to signals in any direction.

Analysts find potential short-term double bottom pattern

Technical analyst Aksel Kibar spotted a potential double bottom pattern on the Ethereum price chart, suggesting the currency may be trying to stabilize after experiencing a sharp decline. This pattern appears as prices form two similar lows, followed by testing resistance upwards, which, if confirmed, may mean that selling pressure has weakened.

Confirmation of this form depends on whether Ethereum can break the neckline near $1850. If a successful breakthrough is achieved, the rebound may extend to $1950 and may even hit $2000. Prior to this, the double bottom shape is still a preliminary judgment.

The long-term fundraising phase is still going on

Another market commentator Jesse Peralta pointed out that Ethereum's current fundraising phase is close to 1900 days. The only previous funding phase of similar scale lasted for 721 days and then ushered in a sharp rise.

The long-term fundraising phase often indicates a stronger trend after the market finally breaks through. For Ethereum, the long-term breakthrough range is expected to be around $4000 to $4200. Before reaching this target, ETH needs to recover $1850 and reach $2000, which will strengthen its medium-term bullish outlook.

Small Dictionary: The fundraising stage refers to the period when assets fluctuate for a long time within a relatively narrow range, which usually indicates that investors gradually establish positions before a potential breakthrough.

TD Sequential indicator highlights callback risk

Technical expert Ali Charts reported that Ethereum prices are testing their short-term channel upward, while the TD Sequential indicator has triggered a sell signal. This increases the possibility of a price correction to $1770, and if it falls further,$1700 will become the next support level.

TD Sequential is a well-known technical indicator that identifies potential trend reversal points based on price collapse patterns.

Small Dictionary: TD Sequential is a technical analysis tool created by Tom DeMark to identify weakness points in trends and help traders predict reversals.

For bullish traders, holding on to $1770 is crucial. If Ethereum can maintain this support level, there may be limited room for further downside. However, a clear break below $1700 would undermine the short-term bullish pattern.

ETH/BTC trading pair attempts to reverse decline

Ethereum also shows initial signs of strength against Bitcoin, with the ETH/BTC trading pair trying to rebound slightly after a long period of poor performance. Aksel Kibar observed that the trading pair is trying to recover from lows, which could mean money is returning to Ethereum after months of weakness.

The continued recovery of the ETH/BTC trading pair may provide further support for Ethereum's dollar price amid broader market volatility.

Key price points to focus on

The following price levels are seen as key turning points for Ethereum in the coming days. If ETH remains above $1770 and breaks through $1850, buyers are expected to push the market towards $1950 and $2000. Failure to hold these support levels, especially below $1700, may trigger a new round of selling pressure.

Importance of the level
US$1770 main support level
US$1700 next downside target if US$1770 falls
US$1850 double bottom pattern confirmation area
US$1950 secondary rebound target
US$2000 important psychological and technical resistance level
US$4000 - 4200 long-term breakthrough range

Ethereum's short-term outlook depends on these key levels, and traders are waiting for the market to make the next decisive move.