Ethereum is trading near $2,600 during midday European trading on June 3, reflecting slight overnight gains while maintaining a six-week uptrend that started in late April. Technical strategist Kevin (@Kev_Capital_TA) highlights in a new video analysis that the current price plateau conceals a structural shift evident across all major Ethereum charts.
Kevin observes that the price has been fluctuating within a significant range since April 2021, indicating a compression that often precedes substantial price movements. He notes that a pivotal moment occurred in April when Ethereum briefly dipped to the $1,400 mark before reversing and closing with what he describes as a "massive demand candle." This particular pattern has appeared only twice before on a monthly ETH chart, each time following a major correction and subsequently leading to sustained price increases.
The confirmation arrived with the May candle, which exhibited a 41% body, pushing the price above the long-term super-trend, an area many analysts had deemed likely to break. Kevin emphasizes that the current structure is "so historical" due to the alignment of high-momentum indicators that very rarely converge simultaneously.
The monthly stochastic RSI is on the verge of executing a "V-shaped cross" from oversold territory, reminiscent of the last clean cross that marked the macro bottom in 2020. Meanwhile, the MACD histogram is compressing into a symmetrical triangle, a formation that has taken four years to develop, indicating "coiled energy" that is likely to result in a significant directional move.
On-chain money-flow readings are also at historically low levels but are showing signs of reversal, suggesting that large holders are beginning to accumulate while retail sentiment remains muted. Kevin shifts focus to dominance metrics that he believes will influence whether Ethereum's movement can extend into the broader altcoin market.
He highlights Ethereum's dominance using Heikin-Ashi candles, which show the first green print in over a year, coinciding with the zone that formed the base in 2019-20. Kevin notes that the current position mirrors the demand candle patterns seen before the last bull run. The appearance of a Market Cipher buy signal, along with the VWAP crossing the zero line and money flow rising from all-time lows, suggests that "whales are starting to accumulate, and nobody is paying attention."
Additionally, Kevin discusses the ETH/BTC ratio, which has reached the 0.5 Fibonacci retracement level of the entire 2020-21 advance, also printing demand candles and showing green on the Heikin-Ashi readout. He finds it particularly striking that the monthly stochastic RSI has spent 1,066 days below the 20 threshold, traditionally indicating bear-market exhaustion, declaring, "It’s game time." He believes that Ethereum is on the brink of a significant upward movement, occurring under the radar of most observers.
Kevin argues that the macro backdrop is becoming increasingly supportive, stating, "You don’t actually need the Fed to cut; we just need guidance—looser policy on the horizon, decent inflation prints—and Ethereum will do the rest." Historically, he claims, a decisive rotation in Ethereum has been a catalyst for what he terms "durable altcoin outperformance," signaling a shift of risk capital toward smaller market-cap assets.
While skeptics point out that Ethereum faces substantial resistance in the $2,800–3,000 zone and that previous rallies have stalled at this ceiling, Kevin acknowledges its significance but insists that the weight of monthly signals suggests a sustained breach is increasingly probable. He warns that these are monthly timeframes, which do not resolve quickly, but the evidence indicates that the multi-year bear market in ETH-BTC is coming to an end. At press time, ETH traded at $2,607.
