The Ethereum (ETH) price rallied by about 10% on Wednesday to clear the $3,550 resistance zone very swiftly. Interestingly, this bullish price action has led to a bullish signal on a popular indicator used for predicting price outlook. Notably, the SuperTrend buy signal has resurfaced, bringing into question Ethereum’s potential to replicate its past performance after such a signal and move toward the $7,500 price level.

Crypto Analyst Highlights The Significance Of The SuperTrend Buy Signal

Renowned crypto analyst Tony “The Bull” Severino, CMT, took to the social media platform X to highlight the reemergence of the SuperTrend buy signal on the Ethereum price chart. Particularly, this SuperTrend buy signal was noted on the weekly candlestick timeframe, meaning that the projected bull surge is going to play out on a larger time period. 

Tony Severino pointed out the historical impact of the SuperTrend buy signal, stating, “Ether did a 120% rally after 2023’s buy signal. Another 120% from today’s signal would be $7,500 per $ETH.”

The SuperTrend indicator, which is designed to identify clear buy or sell signals based on market trends, previously highlighted a buy signal for ETH in early 2023. During that time, the Ethereum price was trading around $1,300. Although the Ethereum price dipped a bit after the buy signal when observing from a smaller time period, it eventually picked up steam in the last quarter of 2023. 

From that point, the Ethereum price surged by around 170% from a low of $1,536 in October 2023 until it crossed above $4,000 in March 2024, essentially validating the weekly SuperTrend buy signal. In light of this, its reliability as a directional guide has earned it a respected place among technical analysts and traders.

Today, the SuperTrend buy signal has reappeared after printing a sell signal earlier in the year. If the Ethereum price mirrors its 2023 performance, a 120% rally from its current price range would bring it to approximately $7,500. In terms of a timeframe, we can only look towards the previous price performance. Therefore, the Ethereum price could reach its peak sometimes in the middle of 2026. 

Technical Analysis Supports The Bullish Outlook For Ethereum To $7,500

Building upon the SuperTrend signal, other technical indicators further reinforce Ethereum’s bullish outlook. Recent analysis shows that ETH has established a strong upward movement, maintaining levels above the key support at $3,250 and approaching resistance zones near $3,685.

The hourly Relative Strength Index (RSI) is reading around 50, suggesting that ETH has not yet entered overbought territory. Additionally, the Moving Average Convergence Divergence (MACD) for ETH/USD is gaining momentum in the bullish zone, indicating a potential for continued upward momentum.

At the time of writing, the Ethereum price is trading at $3590, having reached an intraday high of $3,682 in the past 24 hours. 

Featured image created with Dall.E, chart from Tradingview.com

The cryptocurrency market is buzzing with discussions about the delayed onset of the altcoin season. While Bitcoin has surged due to institutional interest and spot ETF (exchange-traded funds) demand, the altcoin market remains relatively subdued.

Analysts and industry insiders are dissecting the factors behind this phenomenon, revealing a technical interplay of capital flows, investor behavior, and market events.

Diverging Opinions on Delayed Altcoin Season

Ki Young Ju, CEO of CryptoQuant, argues that the current Bitcoin (BTC) rally differs significantly from previous cycles. In a detailed thread on X (formerly Twitter), he explained that the nature of capital flowing into Bitcoin has shifted. Institutional investors and spot ETFs are now driving Bitcoin’s growth rather than retail traders on crypto exchanges.

“These institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins,” Ki Young Ju stated.

He emphasized that these players operate outside of crypto exchanges, making asset rotation less feasible. Moreover, smaller altcoins depend heavily on exchange users for liquidity, which has been lacking in this cycle.

CryptoQuant CEO suggested that fresh capital must flow into crypto exchanges for altcoins to achieve new all-time highs — a trend not yet evident. While institutional funds might venture into major altcoins, minor ones remain reliant on retail traders.

Ki Young Ju concluded that altcoins need independent strategies to attract fresh capital rather than riding Bitcoin’s momentum. Despite this cautious outlook, he remains optimistic.

“Altseason will come, but it’ll be selective. Not every altcoin will hit its previous ATH,” he added.

Not everyone agrees with CryptoQuant CEO’s analysis. CryptoVizArt, a senior analyst and researcher at Glassnode, believes altseason has already begun. He highlighted Solana’s explosive growth in active addresses, which now number 18.6 million per day—nearly 40X that of Ethereum.

“Retail has already chosen where to gamble in this cycle,” CryptoVizArt noted.

The researcher pointed to the popularity of meme coins and Solana-based projects as evidence of altseason in progress. However, Ki Young Ju partially aligned with this view.

“Altseason has started for a few major altcoins, but not for others,” the CryptoQuant executive noted.

Other analysts, like Crypto Feras, take a more historical perspective. In their view, altseason traditionally occurs in the latter stages of Bitcoin’s cycle.

“In 2020, altcoins were crushed during Bitcoin’s glorious run in H2, only to rally later,” Feras stated.

They argue that the sheer number of altcoins today dilutes capital inflows, making the current cycle’s altseason less impactful than previous ones.

The Psychology of Market Cycles

XForceGlobal, another prominent community member, offered a nuanced critique of Ki Young Ju’s argument, highlighting the role of psychology and the dominance metric in understanding market behavior.

“It’s impossible to measure the allocation of institutions versus exchange users. The market operates as a self-fulfilling prophecy,” they said.

They pointed out that altseason often lags Bitcoin’s rally, with confidence in Bitcoin typically translating into altcoin growth.

“Altcoins will always lag, but once money flow aligns, an altseason is inevitable,” XForceGlobal concluded.

Adding to the discussion, indicators such as the Ethereum-to-Bitcoin (ETH/BTC) ratio hitting historic lows suggest a possible shift in the market. Similarly, BeInCrypto also reported on altcoins being poised for growth, supported by rising sentiment and key technical indicators.

However, the total altcoin market cap remains below its all-time high, echoing Ki Young Ju’s concern about the lack of fresh liquidity from exchange users.

The consensus among analysts is that altcoin season will arrive, but its scale and scope remain uncertain. Institutional interest in Bitcoin has reshaped the market, reducing the direct spillover into altcoins. Retail participation, essential for smaller altcoins, has shifted focus to niche sectors like meme coins and Solana.

Ultimately, altcoins must innovate to attract new capital independently. Whether through unique use cases, partnerships, or technology breakthroughs, the path forward requires more than reliance on Bitcoin’s momentum.

As Ki Young Ju aptly summarized, “Bitcoin’s future growth is tied to ETFs, institutions, and governments—not retail traders. Altcoins must adapt to this new reality to thrive.”