Crypto Analyst Spots “Rare Reversal” Signal: Is Ethereum (ETH) About to Explode?
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Ethereum (ETH) may be on the cusp of a historic breakout, according to prominent technical analyst Kevin, who sees a rare confluence of reversal signals not seen since the early stages of past altcoin seasons.
While ETH currently trades at $2,485—down 1.73% for the day—the monthly chart reveals patterns that have preceded massive rallies in the past. Kevin highlights 3 major bullish indicators that could point to a coming price explosion.
First, in April, Ethereum printed what Kevin calls a “demand candle” on the monthly chart. Historically, this type of candlestick has only appeared twice since 2020. On both occasions, ETH entered powerful upward moves shortly after.
Secondly, the monthly stochastic RSI is showing a pronounced “V”-shaped recovery out of the oversold territory. This pattern closely resembles what occurred in 2020, just before ETH launched into a parabolic move from $200 to over $4,000.
Finally, and perhaps the most striking pattern, is the multi-year MACD compression, forming what analysts interpret as a symmetrical triangle.
Ethereum Breakout Pattern Targets $4,800 – ETH Bulls Regain Control
Ethereum (ETH) has broken out of a steep descending wedge pattern, a classic bullish reversal signal, with price now climbing toward key resistance levels.
The first major resistance lies around $3,600 — a level that previously acted as support during the 2021-2022 cycle and was rejected multiple times since. A clean break above this area could open the path to $4,800, Ethereum’s all-time high, as mapped out by the dotted upside projection.
ETH Daily Chart | Source: TradingView
Momentum indicators support the bullish setup.
The RSI has cooled to 52.89 after a recent overbought spike, offering renewed upside potential without signaling exhaustion.
MACD histogram bars are recovering toward the zero line after bearish fading, with potential for a bullish crossover if buying resumes.
If Ethereum holds above the $2,300–$2,400 zone, a gradual grind toward the $4,800 region could unfold over the summer.
Longer term, a breakout above ATH could place $6,000 in sight — but failure to reclaim $3,600 convincingly may result in a retest of the $2,000 area.
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