Ethereum Faces TD Sell Signal At Key Resistance—$4,100 Next?

An analyst has pointed out how Ethereum has seen a sell signal on the Tom Demark (TD) Sequential alongside the retest of a key resistance ￰0￱ Is Trading Around Upper Boundary Of Descending Channel In a new post on X, analyst Ali Martinez has talked about how Ethereum is looking from a technical analysis (TA) perspective. First, Martinez has pointed out that ETH has been trading inside a Descending Channel for the last couple of ￰1￱ Reading: Bitcoin STH Whale Profits Hit $10.1 Billion, Highest For The Cycle The Descending Channel refers to a consolidation pattern that forms whenever an asset’s price travels between two parallel lines that are sloped downward.

It’s a type of Parallel ￰2￱ is the chart shared by the analyst that shows the Descending Channel for Ethereum’s 12-hour ￰3￱ the graph, it’s visible that Ethereum fell toward the lower level of the Descending Channel in late September, but found support at it and rebounded back ￰4￱ lower boundary of all Parallel Channels is assumed to be a source of support, so this would fit with the ￰5￱ the rebound, ETH has made its way back up to the upper boundary of the ￰6￱ the time Martinez made the post, the coin was just retesting it, but it has since added to its gains and is now looking to achieve a sustainable break past the ￰7￱ has made three attempts at breaking this barrier in the last two months, so it only remains to be seen whether the latest move above the line will ￰8￱ that could make the sustainability of the rally harder is another TA alert that has appeared for the asset: a TD Sequential ￰9￱ Sequential is an indicator that’s generally used for locating potential points of reversal in any asset’s ￰10￱ involves two phases, called the setup and ￰11￱ the former of these, the indicator counts candles of the same color up to ￰12￱ these nine candles are in, it gives a top or bottom signal, depending on the color of the ￰13￱ countdown picks off right where the setup ends and runs the count for another round, except this time it measures thirteen candles, not ￰14￱ these thirteen candles, the coin could be considered to have reached another ￰15￱ Reading: Bitcoin STH Exchange Inflows Hit $5.7B: Profit-Taking Already Underway?

The latest TD Sequential signal in Ethereum has come after nine green candles, meaning that from the perspective of the indicator, bullish trend may be reaching a state of ￰16￱ both the resistance and this signal looming over ETH’s head, the rally could face a ￰17￱ on where the midline and bottom line of the Descending Channel lie, the analyst says, “a rejection here could send Ethereum to $4,100 or even $3,780.” ETH Price At the time of writing, Ethereum is trading around $4,730, up almost 13% over the last ￰18￱ image from Dall-E, charts from ￰19￱