Ethereum Shows Rare Bullish Signals, Analyst Predicts Major Rally
Ethereum is experiencing a unique convergence of bullish indicators, according to analyst Kevin from Kev Capital, marking a potential "once-in-a-decade" opportunity. In his analysis, he emphasizes that these signals have never appeared together in Ethereum's history.
Key Points
- Kevin predicts a rally for Ethereum, following past forecasts regarding an "ETH season."
- Since a pessimistic sentiment two months ago, ETH has increased by over 150%, with related assets like Chainlink and Uniswap also seeing significant gains.
- A monthly demand candle at major support triggered initial bullish momentum, supported by multiple momentum indicators improving from oversold conditions.
- The Stock RSI showed a "V-shaped turnaround," and whale money flow reversed from historic lows.
- Key resistance remains near the previous all-time high of approximately $4,850, suggesting caution before further investments.
- Current macroeconomic trends indicate a high probability of US interest rate cuts, which may support altcoin performance moving forward.
- While bullish, Kevin warns of potential market shocks and advises caution against chasing resistance levels during pullbacks.
- As of now, ETH is trading at $4,624.