- Ethereum’s weekly chart formed a TD Sequential “9” setup, suggesting potential trend exhaustion and an early sign of bullish momentum.
- The $1,550 support zone held strongly with tight candle formations and a long lower wick, reflecting buyer defense at this level.
- RSI shows recovery from oversold, while MACD histogram contraction signals weakening bearish momentum in Ethereum’s recent weekly trading activity.
Ethereum’s weekly chart displays a TD Sequential buy signal, supported by a $1,550 zone bounce, improving RSI and MACD readings this week, and narrowing weekly candle bodies. This setup suggests a possible short-term relief rally.
TD Sequential Buy Signal Suggests Potential Reversal
Blockchain analyst Ali tweeted a TD Sequential “9” setup above the most recent ETH weekly candle. This pattern typically marks exhaustion in a persistent downtrend.
The weekly ETH chart from TradingView shows lower highs and lower lows since March. The dominance of black candles indicates ongoing selling pressure across weeks.Earlier, a green “A13” label appeared beneath a prior candle, marking another buy signal. However, subsequent price declines showed that selling pressure remained.
The TD Sequential indicator tracks a nine-candle count, helping traders spot potential trend exhaustion points. Analysts will watch next weekly closes for reversal confirmation. The chart’s Trend Direction setup also indicated a buy signal, though traders await weekly confirmation before increasing positions.
Support Zone Holds Near $1,550, Indicators Show Recovery
The chart reveals a horizontal support zone near $1,550 that recently rejected lower prices. A long lower wick two weeks ago underlined this rejection.
Recently, tight-bodied candles around $1,580 indicated indecision among traders. Furthermore, a break above the descending trendline suggested early trend shift signs.Meanwhile, bulls appear to defend the $1,580 level after testing nearby support. This consolidation may precede a clearer directional move in the weeks ahead.
The area between $1,550 and $1,580 may act as an accumulation range. Tight consolidation zones often precede stronger breakouts as supply and demand rebalance.Price action around the $1,550 mark may signal buyers stepping in as sellers lose momentum, reinforcing the support level.
Momentum Indicators and Potential Price Targets
The RSI currently sits near 38.5, recovering from oversold conditions below 30. Meanwhile, the MACD remains below its signal line.The histogram is contracting, suggesting waning bearish momentum. A bullish weekly candle closed above the descending trendline and last week’s close.
A successful hold above $1,725 could encourage further buying interest.If ETH maintains momentum above $1,725, a rally toward $2,000–$2,200 may occur. Otherwise, a break below $1,550 could open the path to $1,350–$1,250 levels.
Trading volume has increased this week, reinforcing interest in ETH, a factor traders often view alongside price trends. Ethereum traded at $1,695.59 with a 24‑hour volume of $19.7 billion at the time of writing. The price rose 4.14% in 24 hours and 4.54% weekly.
