According to data from CoinMarketCap, Ethereum (ETH) had dipped over 2% in the last 24 hours. This negative price movement comes after an initial price boost by the token which it gained by over 19% following news of the Bitcoin spot ETF approval in the US on Wednesday.
Interestingly, popular crypto analyst Ali Martinez has offered more insight into ETH’s developing downtrend, highlighting the next possible support zones for crypto’s largest altcoin.
Ethereum May Be Headed For $2,450 – Analyst
In an X post on January 11, Martinez shared that the TD Sequential indicator presented a sell signal on the Ethereum 4-hour chart, which could possibly result in the altcoin’s price falling to a support level of $2,530.
For context, the Tom Demark Sequential indicator is a popular TA tool used to identify trend exhaustion and predict possible trend reversals.
According to Martinez, this analysis tool showed that ETH was due for a price correction following a price surge in which t
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