Ethereum Bulls Charge as TD Sequential Flashes Buy Signal

Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization, is poised for significant upside momentum, with a prominent crypto expert hinting at a buy signal for the altcoin. On February 11, 2025, the expert posted on X (formerly Twitter) that ETH appears bullish, with the TD Sequential indicator flashing a buy signal on both daily and weekly time frames.

Besides this prediction, ETH has already shifted its sentiment from bearish to bullish. According to expert technical analysis, ETH has recently broken out of a symmetrical triangle pattern on the four-hour time frame. If ETH holds above the breakout area, there is a strong possibility it could soar by 10% to reach the $3,000 level in the near future.

This shift in sentiment and recent breakout occurred after the overall cryptocurrency market began experiencing upside momentum, attracting significant attention from traders and investors. On-chain analytics firm Coinglass reports that ETH open interest (OI) has jumped by 6.50%, indicating rising participation and the formation of new positions, which supports a bullish outlook. However, Coinglass data also reveals that intraday traders are currently betting strongly on long positions.

At press time, the major liquidation levels are near $2,620 on the lower side and $2,725 on the upper side, with traders being over-leveraged at these levels. If market sentiment remains unchanged and the price rises to the $2,725 level, nearly $100 million worth of short positions will be liquidated. Conversely, if sentiment shifts and the price drops to the $2,620 level, nearly $570 million worth of long positions will be liquidated. This liquidation data shows that traders are strongly betting on the long side, currently holding more than five times the value in long positions compared to short positions.

With rising interest and bullish price action, Ethereum is currently trading near the $2,685 level, having surged over 4% in the past 24 hours. However, during the same period, its trading volume has increased by 5%, indicating a modest rise in participation from traders and investors compared to the previous day.