Ethereum’s 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. The 
core of Kevin’s argument 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. “Is 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?” 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. Analyst Says Ethereum Still Needs $2,800 Breakout 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. Related Reading: 
Ethereum Price Extends Decline As $2,220 Support Comes Into Play “Until 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’s still a higher counter-trend rally within a higher time frame downtrend,” 
he said. He pointed to Ethereum’s 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. The analyst also questioned whether Ethereum’s current 
structure resembles a major bottom. In his view, prior bullish reversals 
showed more constructive accumulation, including rounding structures, stronger 
retests, and cleaner transitions back above key averages. The current move, by 
contrast, has been “lackluster,” with low volume, muted money flow, weak spot 
inflows, limited whale money flow, and insufficient upside expansion. Bitcoin 
Still Leads The Signal 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. Related Reading: Ethereum Withdrawals From Exchanges Just Hit An 
8-Month Low: Find Out What Investors Are Waiting For “When it comes to doing 
altcoin analysis, the first thing you should be doing is looking at the 
Bitcoin chart. 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,” he said. That framework matters because, in his view, Ethereum’s 
breakout case depends not only on ETH reclaiming resistance, but also on 
Bitcoin confirming a broader market reversal. He noted that Bitcoin is testing 
its 200-day SMA, making the coming sessions important for the broader crypto 
trend. Kevin said he remains willing to pivot if the charts change. A valid 
bullish setup, in his framework, would include a breakout above major moving 
averages, a pullback that holds them as support, and a new advance from there. 
That would mark the kind of trend change that could justify more aggressive 
upside positioning. At press time, ETH traded at $2,283. Featured image 
created with DALL.E, chart from TradingView.com

Ethereum To $10,000? Analyst Says ETH Must Clear This Level First

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Ethereum To $10,000? Analyst Says ETH Must Clear This Level First

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