- The weekly chart of Ethereum features a TD Sequential “9” count that indicates a likely complete downtrend and the beginning of a momentum shift.
- Crossing above $1,684 levels would enhance the chances of regaining $1,800 price levels and demonstrating recovery readiness.
- Accumulation activity alongside decreased selling pressure indicates the start of investor buy-in according to $1,617.88 support level activities.
Ethereum (ETH) shows potential signs of market recovery because a key technical condition indicates upcoming changes in trading direction. A TD Sequential buy signal on the ETH/USDT perpetual contract weekly chart indicates the potential end to the current downtrend. The current Ethereum market value amounts to $1,639.17 as it shows a 1.1% upward trend within the last 24 hours.
TD Sequential Indicator Triggers Buy Setup
The TD Sequential technical indicator triggered a “9” formation on its weekly time frame. The appearance of this indicator suggests both rest and potential change within the current market direction. A 9-count pattern within the market has historically indicated significant market recovery moments especially when it appears near support zones.
The price point that holds importance at $1,617.88 forms the basis of the support level indicator for Ethereum’s market movement. A slight upward trend inside the current candle suggests that investor behavior may be set to transform as bearish intensity has held dominance for an extended period.
Ethereum Faces Key Test at $1,684 Resistance
From mid-March until now Ethereum has maintained a declining trading pattern across its weekly chart as bearish candles consistently appeared. The latest candle patterns depict decreased body size which suggests diminishing selling strength together with waning interest from potential buyers. Ethereum must successfully break through $1,684.05 to start a comprehensive recovery according to recent analysis.
Attaining a price level above $1,684 resistance would unlock the possibility of retesting higher psychological barriers around $1,800 or above based on analysts’ predictions.
Ethereum Eyes Rebound, Caution Advised
The current market data presents a potential bullish trend but investors need to exercise prudence. The rising price combined with the newly emerging TD Sequential buy signal indicates initial accumulation potential though Ethereum needs to maintain above the support level and overcome resistance barriers for confirmation.
The current technical evaluation of Ethereum on its weekly chart suggests a promising start for a possible rebound pattern. The upward movement of Ethereum requires sustained observation of market sentiment through volume along with macroeconomic indicators to judge its long-term sustainability.
