Ethereum shows rare bull signal but faces key resistance at $4,850
Ethereum (CRYPTO:ETH) is flashing what analyst Kevin of Kev Capital calls a “once-in-a-decade” confluence of bullish technical signals.
Kevin’s August 12 update revisited his May forecast for “ETH season,” noting the rally has unfolded almost exactly as projected.
ETH has risen over 150% since his call, with altcoins like Chainlink, Uniswap, and Ethereum Classic posting triple-digit gains.
The rally began with a rare monthly demand candle at major support, historically a precursor to large price moves.
Momentum indicators such as the monthly Stock RSI, MACD histogram, and whale money flow have reversed from extreme lows.
A monthly MACD cross at the zero line is seen as a key ignition point for a sustained breakout.
On ETH dominance charts, oversold conditions, an imminent MACD cross, and major support levels mirror the 2019–2020 cycle bottom.
The ETH/BTC chart reinforced the timing, signalling a phase of Ethereum-led altcoin outperformance.
Kevin warns ETH remains capped by its previous all-time high near $4,850, a critical resistance zone.
He advises against buying into this long-term barrier, citing the “Total 2” altcoin market cap resistance at $1.71–$1.72 trillion.
Macro factors, including a likely US interest rate cut in September and further cuts in October and December, could boost momentum.
Kevin sees the market as high-risk, high-reward until resistance levels are broken on high time frames.
He believes pullbacks are likely but maintains Ethereum is in the “back half” of the bull market.
At the time of reporting, Ethereum price was $4,625.82.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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