Ethereum\u2019s latest rebound has brought the $10,000 bull-market debate back into focus, but crypto analyst Kevin (Kev Capital TA) says ETH has not yet confirmed a higher-timeframe trend reversal. In a May 7 market update, the analyst argued that Ethereum remains trapped below major resistance until it can reclaim the $2,800 area and prove the move with a successful retest.<\/p>\n
The core of Kevin\u2019s argument<\/a> is simple: ETH has rallied from its local low near $1,700, but the move still resembles a counter-trend bounce rather than the beginning of a durable bull-market phase. He said market sentiment has shifted from bearish to more neutral as price has climbed into resistance, a pattern he sees frequently during relief rallies.<\/p>\n \u201cIs the bull market back? Are we back in a higher time frame uptrend? Is ETH going to 10K right now? Is the bottom of the bear market in?\u201d he asked, framing the debate now dominating crypto social media. His answer was cautious. While some traders are already calling for a new uptrend, Kevin said the chart has not yet delivered the confirmation bulls need.<\/p>\n For Kevin, the level to watch is $2,800. Until Ethereum gets back above that zone, moves toward $2,900 or $3,000, and then retests reclaimed moving averages as support, he said the market structure remains unresolved.<\/p>\n \u201cUntil ETH gets back above $2,800, until it then comes back up to $2,900 or $3K, maybe gets rejected there, comes back down and retests these key moving averages, the golden pocket holds it and starts to ascend higher. Until that happens, it\u2019s still a higher counter-trend rally within a higher time frame downtrend,\u201d he said.<\/p>\n He pointed to Ethereum\u2019s interaction with the 100 EMA, 21-week EMA, and 20-week SMA, saying ETH had moved into that resistance cluster and was already showing signs of rejection. Several daily candles, he noted, carried large upside wicks, which he interpreted as weakness in the rally rather than clean accumulation.<\/p>\n The analyst also questioned whether Ethereum\u2019s current structure resembles a major bottom. In his view, prior bullish reversals showed more constructive accumulation<\/a>, including rounding structures, stronger retests, and cleaner transitions back above key averages. The current move, by contrast, has been \u201clackluster,\u201d with low volume, muted money flow, weak spot inflows, limited whale money flow, and insufficient upside expansion.<\/p>\n Kevin stressed that Ethereum should not be analyzed in isolation. Even for ETH, he said Bitcoin remains the first chart to watch when assessing whether crypto has truly shifted back into a higher-timeframe uptrend.<\/p>\n \u201cWhen it comes to doing altcoin analysis, the first thing you should be doing is looking at the Bitcoin chart<\/a>. Second thing you should be doing, looking at the USDT dominance chart. Third thing you should be doing, looking at the altcoin pairing chart against Bitcoin and then from there you can then analyze the USD pair by itself,\u201d he said.<\/p>\nAnalyst Says Ethereum Still Needs $2,800 Breakout<\/h2>\n
Bitcoin Still Leads The Signal<\/h2>\n