Ethereum’s price momentum appeared to slow on Monday after posting steady gains in recent weeks, as a prominent technical indicator flashed a potential reversal. At 12:00 UTC, ETH traded at $1,903.09. The cryptocurrency’s 24-hour trading volume reached $15.91 billion, with a market cap of $229.79 billion. The price reflected a minor 0.02% daily increase, maintaining stability after a period of upward movement.
Technical indicators hint at cooling momentum
Ali Martinez, a well-followed crypto analyst, pointed to the TD Sequential indicator’s recent shift. Martinez noted that the tool previously signaled a buy opportunity for Ethereum around $1,500, which preceded a 31.5% rally. After this significant run, the TD Sequential has now issued a sell signal as ETH hovers around the $1,980 level.
The TD Sequential, commonly used by traders to identify potential market turning points, has drawn new attention as it called both the bottom and is now suggesting caution. Despite this, Ethereum remains above important technical thresholds.
Currently, Ethereum trades above its middle Bollinger Band, set at $1,884.35. The upper band is at $1,968.57, and the lower sits at $1,800.12. Sustained trading above the middle band shows that bullish sentiment persists, but facing the upper band, Ethereum must surpass $1,968.57 for the uptrend to regain strength.
The MACD indicator adds to this cautious outlook. The MACD line stands at 36.14, now below the signal line at 38.86, with a histogram of -2.72. While the MACD remains above zero, indicating an overall bias to the upside, the cross beneath the signal line signals diminishing buying pressure.
Potential scenarios for Ethereum’s next move
Ethereum is approaching a critical resistance zone between $1,968 and $1,980. A convincing breakout beyond this range may open the door for a renewed bullish wave and accelerate momentum for the world’s second-largest cryptocurrency.
If ETH fails to break through and selling pressure builds following the new TD Sequential signal, the price may retreat toward support near the middle Bollinger Band at $1,884. These levels will likely set the tone for the coming sessions and could determine whether Ethereum’s rally continues or pauses.
Ali Martinez emphasized that while the TD Sequential indicator accurately signaled a buying opportunity at $1,500, its current bearish signal around $1,980 should be watched closely by traders looking to manage risk in the near term.
Investors are closely monitoring additional market catalysts for signs of sustained movements. With technical charts showing mixed signals, analysts caution that Ethereum’s short-term trajectory remains uncertain until significant resistance is overcome.
For those seeking to diversify their portfolios and gain exposure to real-world assets alongside cryptocurrencies, platforms such as 1stepSwap have emerged. By bringing traditional assets directly onto the blockchain, including shares of major U.S. companies and commodities like gold and silver, users can access and trade them through their crypto wallets without intermediaries. 1stepSwap distinguishes itself by finding the best market rates for its users in real time, allowing rapid and efficient buying or selling of the largest stocks while facilitating new ways to diversify portfolios.
While the broader outlook remains positive for Ethereum, upcoming trading sessions are expected to clarify whether the latest bullish momentum will continue.
