Ethereum
Expert sets timetable for when Ethereum price will start hitting $10,000
A crypto analyst made a bold prediction for Ethereum (ETH)setting the timetable for when the world’s second-largest cryptocurrency would embark on a significant rally to new all-time highs above $10,000.
Here’s When Ethereum Will Hit $10,000
A crypto analyst identified as “Yoddha” on X (formerly Twitter) has announcement the timetable for Ethereum’s rise above $10,000. According to Yoddha, Ethereum expected to recover massively after a period of accumulation and decline, continuously increasing above $10,000 by the end of the year.
The analyst ambitious predictions are based on historical trends exhibited by Ethereum from 2016 to 2024. He shared a chart depicting Ethereum’s price performance over those years, highlighting accumulation periods, intermediate peaks, and volatility.
Yoddha revealed that from 2019 to 2021, Ethereum experienced a period of accumulation marked by multiple price fluctuations, including long declines and short rallies. Following this, Ethereum rose significantly, reaching a high of $4,867 towards the end of 2021. This price range aligns with the cryptocurrency’s all-time high of $4,878, reached during the previous market cycle bullish in 2021.
Based on these historical trends, Yoddha identified a similar accumulation phase in Ethereum Price Movements during the current market cycle. The analyst noted that between 2022 and early 2024, Ethereum saw accumulation and slightly bearish phase.
Before reaching an all-time high of $4,088 on March 12, 2024, Ethereum had been in a downtrend in 2022 and 2023. The cryptocurrency has also faces declines several times in 2024, notably around April and May.
Yoddha indicated that Ethereum managed to conclude this accumulation and bearish period and is poised to witness a massive rally towards $15,346, which will continue until the end of 2024.
Analyst Says ETH Could Kickstart Altcoin Season
In other MessageYoddha indicated that Ethereum could kick off the next altcoin season. The crypto analyst has always highlighted the imminent launch of the highly anticipated altcoin season in 2024.
He revealed that altcoins will start to gain traction once the hype around meme coins subsides. Additionally, Yoddha revealed that 2024 could yield the biggest altcoin season, encompassing healthy pullbacks and new all-time highs.
Currently, the price of Ethereum is trading at $3,024, reflecting a decline of 1.58% over the past month, according to CoinMarketCap. A rise above $10,000 will require the cryptocurrency to rise above $7,000, fueled by a notable rise in demand and investor interest in the cryptocurrency as well as the introduction potential of a Ethereum Spot ETF in 2024.
Crypto analyst, Ali Martinez revealed that currently, Ethereum’s TD Sequential is showing a “buy signal” on ETH’s daily price chart. He predicts that Ethereum could witness a rebound one to four candlesticks from its recent price decline.
Chart from Tradingview.com