Crypto analyst Ali Martinez wrote that the TD Sequential indicator issued a sell signal when Ethereum ($ETH) reached the $1980 zone. This same indicator preceded Ethereum's rally, which lifted the token from around $1500 to about $2000.
The analyst did not specify a target price for the cryptocurrency; however, at the time of publication, the $ETH rate had dropped to $1881.41, already below its nearest support level at $1897.27. Most likely, the decline will pause at the third level of $1857.75.
Despite most cryptocurrencies being in a downtrend in 2026, Ethereum has become one of the worst performers among major digital assets. After a brief spike to $3400 in January, $ETH spent most of the subsequent months declining and is down 36.59% year-to-date.
Long-term charts indicate an even more challenging state for the token. Over the past 12 months, Ethereum's value has nearly halved, and over the past five years, $ETH has fallen by 23.32%.
For comparison, Bitcoin ($BTC) has declined by 27% year-to-date, fallen by 46.20% over the previous 52 weeks, but has risen by 53% since mid-2021.
Furthermore, the vote on the CLARITY Act, expected on August 3rd, will significantly impact the digital asset's dynamics. Most participants in the cryptocurrency sector urge Congress to develop a framework that would provide regulatory clarity and promote the safe adoption of cryptocurrencies.
The anticipated vote, despite the uncertainty of its outcome, has already allowed many major cryptocurrencies to rise over the last 30 days. Some analysts predict that if the bill is passed, $BTC will exceed the $600,000 mark within the next two years.
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