Ethereum TD Setup: Why The ETH Price Must Hold $2,250

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	16,242,291,654	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

16,242,291,654

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.012417	7.05%	0.188437	0.188167	0.188265

Price Change

Price Change %

Current Price

Bid Price

Offer

0.012417

7.05%

0.188437

0.188167

0.188265

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.189804	0.17602	0.17602	0.17602	0.077142 - 0.192203

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.189804

0.17602

0.077142 - 0.192203

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	20:03:59	195.51	0.188437	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

20:03:59

195.51

0.188437

USD

Price x Volume	Volume	Base Symbol	Related Pairs
619,179.79	3,334,429.75	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

619,179.79

3,334,429.75

Ethereum TD Setup: Why The ETH Price Must Hold $2,250

11/10/2024 7:00pm

NEWSBTC

Ethereum has largely exhibited a sideways movement between $2,500 and $2,350 in the past seven days. This sideways movement has yet to give rise to a clear path as to how the crypto performs moving forward, denting the sentiment of many bulls. In an interesting analysis with the use of the TD Setup, crypto analyst Ali Martinez highlighted a critical price point for investors to watch on the ETH price trajectory. At the heart of this analysis is the $2,250 price point, a level that could be the line between a bullish recovery and a steep correction. ETH Price Must Hold $2,250 The TD setup is very popular among crypto analysts and investors. Historically, Ethereum has shown a clear reaction after breaking above or below the TD setup. Its reliability in pinpointing key reversal points has made it a go-to tool for analysts like Ali Martinez. Related Reading: Second XRP ETF Filing Hits The Market, How Did The XRP Price Respond? Using an ETH/US Dollar price chart that he shared on social media platform X, Martinez noted that the TD Sequential has made or broken the cryptocurrency’s price action in the past while also highlighting notable examples. Each time the ETH price broke above the TD setup resistance trendline, a strong bull run has always followed. On the flip side, when ETH dipped below the setup’s support line, it corrected by an average of 53%. The first significant breakout above the TD setup resistance triggered an 8,885% surge, which saw the ETH price reach an all-time high of $1,138 at the time. Conversely, the first time the ETH price broke below the TD setup, it corrected by 56.67%. The latest break above the TD setup occurred in March of this year, which saw the ETH price surge by about 113% as it crossed above $4,000 for the first time in two years. Recent price dynamics puts the TD setup around $2,250. According to Ali Martinez, breaking below this price point could trigger a significant price drop. If a historical 53% average were to repeat itself, Ethereum could correct to as low as $1,100. Current Market Snapshot As of the time of writing, Ethereum is trading at approximately $2,410, roughly 7% above the critical $2,250 threshold identified by the TD setup. While the ETH price has managed to stay above this level for now, its proximity to this key price level makes it a critical level to watch. Related Reading: Bitcoin Price Flashes Fractal Similar To October 2023, Here’s What Happened Last Time The TD sequential indicator identifies potential points of exhaustion in an asset’s trend, whether bullish or bearish. Therefore, a break below $2,250 could mean the final reversal from a bullish Ethereum to a bearish sentiment. Market sentiment towards Ethereum remains mixed at the moment. Sellers currently have the upper hand, but a break above $2,500 could set the path for a bullish momentum. Featured image created with Dall.E, chart from Tradingview.com

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