Ethereum is changing hands near $2,600 in midday European trading on 3 June, trimming minor overnight gains but still holding a six-week up-trend that began in late April.<\/p>\n
In a new video<\/a> analysis, technical strategist Kevin (@Kev_Capital_TA) argues that the price plateau masks a structural shift now visible on every major Ethereum chart. \u201cI\u2019m seeing things that are so historical that I had to make a video about it\u2014it just cannot be ignored,\u201d he told viewers at the outset.<\/p>\n On the monthly ETH-USD chart, Kevin begins by zooming out to the monthly ETH-USD chart. The price, he reminds viewers, has \u201cdone nothing but trade in a massive range\u201d ever since April 2021, masking the kind of compression that often precedes violent expansion. The tell-tale turn, in his view, came this April when Ethereum wicked into the $1,400 area only to reverse and close with a candle he labels a \u201cmassive demand candle.\u201d<\/p>\n That pattern, he notes, has appeared only twice before on a monthly ETH chart\u2014each time after a major correction and each time followed by sustained upside. The May candle delivered confirmation: a 41% body that lifted price back above the long-term super-trend, an area many technicians had already written off as \u201cguaranteed to break.\u201d<\/p>\n What makes the structure \u201cso historical,\u201d Kevin argues, is the alignment of high-momentum indicators that rarely fire together. The monthly stochastic RSI is about to execute what he calls a \u201cV-shaped cross\u201d out of oversold territory; the last clean cross marked the 2020 macro bottom.<\/p>\n The MACD histogram, meanwhile, has been compressing into what he likens to a symmetrical triangle that has taken four years to complete, signalling \u201ccoiled energy\u201d that can only resolve in a large directional move. Even on-chain money-flow readings, he says, are \u201ctied for the lowest level in history\u2014but already reversing,\u201d implying that deep-pocketed holders have begun to accumulate while retail sentiment remains subdued.<\/p>\n Kevin then pivots to the dominance metrics that, in his framework, dictate whether a move in Ethereum can spill over into the broader altcoin market. On Ethereum-dominance he pulls up Heikin-Ashi candles to show the first green print in more than a year exactly at the zone that formed the 2019\u201320 base. \u201cWe\u2019re at the same spot ETH dominance bottomed in 2019,\u201d he says, pointing to a series of demand candles that mirror the pre-bull-run pattern of the last cycle.<\/p>\n A Market Cipher buy signal has just appeared, the VWAP has crossed the zero line, and money flow is curling up from all-time-low depths. In Kevin\u2019s view, the implication is clear: \u201cWhales<\/a> are starting to accumulate, and nobody is paying attention.\u201d<\/p>\n The ETH\/BTC ratio completes the trifecta. Here Kevin shows the pair tagging the 0.5 Fibonacci retracement of the entire 2020-21 advance, printing its own demand candles and flipping green on the Heikin-Ashi readout. More striking to him is the monthly stochastic RSI, which has spent 1,066 days\u2014almost three full years\u2014below the 20 threshold that traditionally marks bear-market exhaustion. \u201cIt\u2019s game time,\u201d he declares. \u201cThis thing is getting ready to cross back up, and the negativity on ETH is happening right under everyone\u2019s nose.\u201d<\/p>\n Underlying the technical case is a macro backdrop<\/a> Kevin believes is becoming incrementally supportive. \u201cYou don\u2019t actually need the Fed to cut,\u201d he tells viewers. \u201cWe just need guidance\u2014looser policy on the horizon, decent inflation prints\u2014and Ethereum will do the rest.\u201d<\/p>\nEthereum Flashes Bullish Setup Not Seen Since 2020<\/h2>\n