- Ethereum’s 5-year range may signal setup, not failure, analyst sees “insane” rally.
- Meanwhile, macro signals have flipped with metals topping and liquidity expanding.
- Copper vs gold MACD crossover nears, a trigger seen in 2012, 2016, and 2020 bull runs.
Ethereum, a key benchmark for altcoins, has spent nearly five years moving sideways. Price action has lacked a sustained breakout, and most rallies have failed to hold. For many traders, the period reads as dead capital.
However, analyst Dan Gambardello argued that the same stretch of inactivity may turn out to be one of the largest accumulation windows crypto has ever offered.
Five Years of Chop, No Real Cycle
Ethereum’s long-term chart shows repeated cycles of rallies and pullbacks without a clean bull trend. The market never entered a full altcoin expansion phase after the last cycle peak.
The lack of follow-through led to a split narrative. Bears pointed to failed breakouts as proof of weakness while bulls stayed strong for a delayed cycle. Gambardello claims that the market did not break; it stalled. Gambardello said,
Macro Setup Starts to Shift
The analyst ties crypto positioning directly to macro signals, not short-term chart patterns. In a YouTube video, the analyst explained that gold and silver appear to be topping.
In past cycles, crypto bull runs started shortly after metals peaked. A similar setup is forming again, with silver potentially topping around January 2026 and gold showing signs of slowing after a strong run.
At the same time, liquidity conditions are changing. After years of tightening, the Federal Reserve balance sheet has started to expand again. It is not at 2020 levels, but the direction has changed.
On the other hand, US rail volumes excluding coal hit their highest March level since 2008, noted Gambardello. He pointed to real economic throughput picking up, as PMI data also shows signs of expansion after a long contraction period that began in 2022.
The analyst added that if this trend holds, it marks the end of an extended slowdown phase.
Copper Signal Aligns With Past Bull Runs
One of the key signals Gambardello tracks is copper versus gold, combined with the MACD indicator.
Historically, every major crypto bull market aligned with copper outperforming gold and the MACD line crossing above its signal line on the monthly chart. This setup appeared in 2012, 2016, and 2020.
Each time, a sustained crypto rally followed. The same crossover is now close to triggering again. If confirmed, it would be only the fourth time this structure appears during crypto market history.
Copper strength indicates economic expansion. Gold strength shows defensive positioning. When capital rotates from gold to copper, risk appetite returns and crypto benefits.
Related: US Money Supply Hits Record $22.7, Inflation Fears Rise as Bitcoin Case Strengthens
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Source: https://coinedition.com/analyst-drops-insane-altcoin-opportunity-despite-years-of-sideways-action/
