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The graph of Ethereum illuminates a “one-off” confluence of bullish signals and indicators that he says they have not appeared in the history of the assets. In a video update on August 12, Kevin revise His prediction of May for “ETH season” and detailed why the rally unfolds almost exactly as projected, while warning that the final technical barrier is still intact.
Ethereum is on the last obstacle
Two months ago, when sentiment against Ethereum was the most pessimistic in years, Kevin gave a warning based on the ETH/USD, ETH -Dominance and ETH/BTC monthly graphs. “We were probably the first people to flash these warning signals … It was so obvious and so obvious … something historical,” he said. Since that call, ETH has won more than 150%, with related “beta games” such as Chainlink, Uniswap and Ethereum Classic that sees triple figures of their low point.
The catalyst, Kevin explained, started with a rare monthly demand candle with great support – a formation that preceded solid rallies in previous cycles. This was supported by several momentum indicators who ran from extreme over -sold levels.
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The monthly RSI shares showed what he described as an unprecedented ‘V-shaped turnaround’, the MacD histogram had been coding and whaling stream tighter since the end of 2019 from the lowest lectures in the history of Ethereum. “You can now see the monthly MacD cross on top of this pattern … exactly on the zero line,” he noted, the framed as the technical ignition point for a persistent outbreak.
On ETH dominance, Kevin pointed to the same alignment from Multi-Indicator: transferred RSI and Stock RSI, an imminent MacD cross, and price that achieved the same support that underlined the 2019-2020 cycle. According to him, that soil meant the start of a sustainable phase of ETH -Outformance, a phase that would lead Altcoins higher. The ETH/BTC graph, he argued, confirmed the timing: “The Lead Altcoin showed the road … The bottom is clearly inside.”
Nevertheless, Kevin emphasized that Ethereum is not yet in open price discovery. The most important resistance remains its previous of all time at around $ 4,850. “We are not in the clear … not to buy in four -year large historical resistance levels. That is never smart. That will hurt you,” he warned, and noted that on the wider “Total 2″ market cutter for all altcoins excluding Bitcoin, the $ 1.71- $ 1.72 trillion is the $ 1,72. ” Until those levels are broken at the highest time frames, he sees the market in a high-risk, high-reward attitude.
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Macro circumstances can tap the scales. With CME FedWatch now the price in a probability of 90%+ of an American interest rate reduction in September, and extra cutbacks for October and December, Kevin believes that the mix of relaxing the monetary policy and technical outbreak structures creates a “perfect recipe” for Altcoin’s outperformance. Nevertheless, he warned that macro -shocks could derail the momentum and that traders should position with withdrawal instead of haunting resistance.
For now, Kevin is satisfied with recognizing a rare technical coordination that he has already written history. “The ETH Dominance Call, the ETH versus Bitcoin call that we did a few months ago, played beautifully … I think there will be withdrawal, but in general we are on the back of this bull market,” he said. Whether that back burst half erupts in price discovery depends on one number: $ 4,850. Until that time, the once-a-decennium Stir signal from Ethereum loaded but not yet completely unleashed.
At the time of the press, ETH traded at $ 4,624.
Featured image made with dall.e, graph of tradingview.com
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