As of Thursday, ether (ETH), the native coin of the Ethereum network is exchanging hands at just above $1,700, giving both bulls and bears absolutely no hints about its next potential move. However, some analysts opine that the second-largest cryptocurrency by market cap could be preparing for a massive bullish reversal.
ETH is ready for a bullish reversal
In an X post on Thursday, seasoned crypto trader Ali Martinez stated that the beginning of July has brought with it an important bullish technical signal for Ethereum. Specifically, the Tom DeMark (TD) Sequential has just printed a buy signal on ETH’s monthly chart.
For the uninitiated,a monthly TD Sequential buy signal is a technical indicator that appears when price exhaustion reaches a statistically extreme level on the monthly timeframe. It suggests that sustained selling pressure may be fading and that a potential trend reversal or macro bottom could be forming.
Martinez remarked that although significant volatility could arise due to a new monthly candlestick, the TD Sequential signal turning bullish requires “undivided attention.” Notably, the indicator has successfully mapped out every single major trend reversal for ETH since 2021.
For example, in September 2021, the TD Sequential flashed a monthly sell signal for ETH right at the macro highs. Eventually, ETH went on to decline by as much as 78 percent in the following months.
Similarly, in September 2022, the indicator flipped bullish on the monthly timeframe, and precisely timed the ETH bottom. In the following months, the digital asset went on to record a 235 percent rally.
The most recent example arose in March 2025 when another buy signal materialized. Ether then experienced a healthy 182 percent price expansion. While not a guarantee, it’s highly likely that the July 2025 buy signal will also culminate into extraordinary price appreciation for Ethereum in the medium-term.
ETH breaks out on daily timeframe
Fellow crypto analyst Celal Kucuker shared the following chart on X, adding that ETH has confirmed a minor breakout on the daily timeframe. According to Kucuker, the next target for ETH lies around the $2,300 level.
That said, Ethereum recently made the unfortunate record of hitting 3 consecutive quarters in the red, a testimony to the highly negative stance the market holds for it currently. Exchange data also paints a grim picture for the digital asset, as 57,700 ETH hit Binance on June 17.
