Ethereum Prints TD Sequential '9' Buy Signal Amid Exchange Reserve Decline

Ethereum's price has been under consistent selling pressure in recent weeks, resulting in a 30% drop from above $2,300 to near $1,600. The decline has formed a clear series of lower highs and lower lows, indicating broad bearish sentiment across the crypto market.

The TD Sequential indicator has printed a '9' buy signal on Ethereum's 3-day chart, suggesting that the existing trend may be losing strength. This signal is not a guarantee of reversal, but rather indicates potential seller exhaustion at current levels.

CryptoQuant data shows exchange reserves across centralized platforms trending lower, indicating reduced selling pressure. This suggests that holders are withdrawing their coins to personal wallets rather than exchanging them, which reduces the immediate supply available for sale and eases downward pressure on price.