Ethereum’s price has been stuck below $2,800 for a while now, leaving many investors feeling pessimistic. Analysts are divided, with some predicting further price drops. But there’s a glimmer of hope…
A Rare Buy Signal Appears
Crypto analyst Ali Martinez spotted something interesting: a “buy” signal on Ethereum’s weekly chart using the TD Sequential indicator. This is a rare event, and historically, it’s been followed by strong upward price movements for ETH. If history repeats itself, we could see a significant price surge.
Ethereum’s Price Battleground
The $3,000 mark is a major psychological hurdle for Ethereum. While smaller investors are selling, bigger players seem to be buying up ETH, suggesting they believe in its long-term potential. Martinez points out that every time this buy signal appeared near the lower end of Ethereum’s long-term upward trend, a strong price rebound followed. This could be happening again.
What Happens Next?
Right now, Ethereum is trading around $2,690, stuck in a sideways pattern. Breaking above $2,800 is crucial for a recovery. If it can push past $3,000, that would confirm a bullish trend reversal. However, failure to reclaim $2,800 could lead to a drop towards $2,500. The next few days will be key to determining Ethereum’s short-term direction. The market is waiting to see if this buy signal translates into a real rally.
