The Ethereum price showed a strong recovery today, climbing from earlier lows near $4,475 to close around $4,580.6.
The bullish momentum gained strength after buyers defended the mid-range zone, pushing the price steadily higher.
Overall, the crypto market sentiment has turned positive, suggesting renewed confidence among traders.
At press time, Ethereum (ETH) was trading at $4,586.08, reflecting a modest 1.05% increase over the past 24 hours.
Source: CoinMarketCap
Recent data shared by on-chain analyst Ali Martinez indicates that the TD Sequential indicator flashes a sell signal for Ethereum (ETH) as it tests a key resistance level near $4,700.
This signal often marks the exhaustion of bullish momentum and hints at a potential trend reversal.
The resistance aligns with the upper boundary of a descending parallel channel, a level where Ethereum has faced several rejections before.
The repeated failure to break above this point shows strong selling pressure, suggesting that buyers may struggle to push prices higher without a confirmed breakout.
If the rejection holds, Ethereum could face a pullback toward lower support zones. The first major target is around $4,100, a level that has acted as a consolidation point in recent trading.
A deeper decline could see ETH drop toward $3,780, near the lower boundary of the current channel.
Such movement would fit within Ethereum’s ongoing corrective structure, highlighting cautious sentiment among traders as momentum shifts from bullish to potentially bearish in the short term.
Institution completely liquidates Ethereum holdings
On-chain data reveals that a major institution sells its remaining Ethereum holdings worth $45.21 million. The institution’s wallet transferred 10,001 ETH to another address in the past 12 hours.
This marks the final movement from the account following a series of sizable Ethereum outflows earlier this week.
The same wallet had already executed several large sales ranging between $11 million and $22 million in previous transactions.
The latest transfer confirms that the institution has fully liquidated its Ethereum position.
Source: X
What’s next for the Ethereum price?
Ethereum (ETH) has faced mixed short-term prospects as technical and on-chain signals diverge. The TD Sequential sell signal near $4,700 points to a possible correction, intensified by institutional liquidation worth $45.21 million.
However, if buyers hold the $4,500–$4,100 support zone, ETH could stabilize and regain upward momentum toward key resistance levels.