As a seasoned analyst with over two decades of experience in the financial markets, I find myself intrigued by the latest developments in the crypto realm, particularly Ethereum. The TD Sequential flashing a buy signal is an interesting development that could potentially lead to a price rebound for Ether.
In recent times, the crypto market has been subjected to significant bearish forces, causing a 6% decrease in Ethereum‘s value over the past week. On October 26th, Saturday, Ethereum, often referred to as the “king of altcoins,” unexpectedly plunged in price before stabilizing slightly above $2,400.
As an analyst, I’ve been closely monitoring the predictions of a well-known crypto influencer regarding Ethereum. Their forecast suggests a potential recovery for this altcoin. However, the key question arises: How high could Ethereum ascend before encountering significant barriers to further growth?
TD Sequential Flashes Buy Signal For Ethereum Price
As an analyst, I recently highlighted an intriguing prediction regarding Ethereum’s short-term price movement on the X platform. Drawing from the insights of renowned crypto expert Ali Martinez, the Tom Demark “TD” Sequential has signaled a buy opportunity for Ethereum on its 12-hour chart.
As a crypto investor, I often find myself relying on the Tom Demark Sequential to help me gauge when it’s time to switch directions in my investments. This clever technical analysis tool is specifically designed to spot the precise moment when a trend is about to run out of steam and reverse course. It consists of two distinct phases: the TD Setup, which is essentially the momentum phase, and the TD Countdown, which represents the trend exhaustion phase.
After a price change direction, the TD Setup stage follows and involves a sequence of 9 candles. Subsequently, the TD Countdown stage becomes active, but only once the Setup stage is confirmed, and it consists of 13 candles (usually of the same polarity).
Looking at the graph, it appears that Ethereum has moved through its TD Setup stage, as indicated by the “9” marked on the latest candle. This could imply that the price of this altcoin may have hit its lowest point, and a rise might be imminent in the near future.
As per Martinez’s analysis, if the support level at $2,412 remains intact for Ethereum, it could potentially surge up to $2,665, given that no significant resistance is encountered along the way.
Following a resurgence in Ethereum’s price to approximately $2,400, it seems that the $2,412 level provided robust support. Currently, the Ether token is priced at $2,478, indicating a minimal 0.1% decrease over the last day.
On-Chain Data: Negative Region
Based on current blockchain information, the price of ETH on exchange platforms is below its coinbase price (price at which miners sell), with a gap of -2. This downward trend implies that large-scale investors and American institutions may be offloading their Ethereum holdings.
As Ethereum’s price appears ready for a swift recovery, intense selling by American institutional investors might temporarily halt any price surge in the immediate future. Yet, this downturn might present a chance for strategic investors to seize the dip and invest for the long haul.
Read More
- DEXE PREDICTION. DEXE cryptocurrency
- WIF PREDICTION. WIF cryptocurrency
- From Season 4 Renewed With Release Date Window & Episode Count
- FLOKI PREDICTION. FLOKI cryptocurrency
- TURBO PREDICTION. TURBO cryptocurrency
- SEI PREDICTION. SEI cryptocurrency
- ZEN PREDICTION. ZEN cryptocurrency
- FIS PREDICTION. FIS cryptocurrency
- XRD PREDICTION. XRD cryptocurrency
- GLMR PREDICTION. GLMR cryptocurrency
2024-10-27 18:40