A cryptocurrency analyst has made a bold prediction. Ethereum (ETH)The world’s second-largest cryptocurrency is timing a significant rally toward an all-time high above $10,000.
Here’s when Ethereum will hit $10,000:
A cryptocurrency analyst identified as ‘Yoddha’ on X (formerly Twitter) presentation Timeline for Ethereum rising above $10,000. According to Yoda, Ethereum is expected to rebound After a period of accumulation and decline, it continued to rise above $10,000 on a large scale until the end of the year.
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analyst’s ambitious predictions He bases it on the historical trends shown by Ethereum from 2016 to 2024. He shared a chart depicting Ethereum’s price movement during this period, highlighting the accumulation periods, intermediate highs, and volatility.
Yoddha from 2019 to 2021; Ethereum has witnessed a period of accumulation It is characterized by a variety of price movements, including long downtrends and short uptrends. Since then, Ethereum has surged significantly, reaching a high of $4,867 in late 2021. This price range is consistent with the cryptocurrency’s all-time high of $4,878 achieved during the previous bull market cycle in 2021.
Based on these historical trends, Yoddha identified the following similar stages of accumulation: Ethereum price movement During the current market cycle. The analyst predicts that from 2022 to early 2024, Ethereum will experience accumulation and slightly bearish phase.
Before reaching an all-time high of $4,088 on March 12, 2024, Ethereum experienced a bearish trend in 2022 and 2023. face decline Several times in 2024, especially around April and May.
Yoddha believes that Ethereum has successfully completed this accumulation and bearish period It is expected to extend until the end of 2024 and witness a massive rally towards $15,346.
Analyst Says ETH Could Kick Off Altcoins Season
Other X postYoddha indicated: Ethereum could kick off the upcoming altcoin season. Cryptocurrency analysts have consistently highlighted the imminent launch of the highly anticipated altcoin season in 2024.
He stated that as the hype surrounding meme coins dies down, altcoins will start to gain more appeal. Additionally, Yodha exposed 2024 could usher in the biggest altcoin season yet, including healthy declines and new all-time highs.
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The current price is Ethereum is trading at $3,024According to CoinMarketCap, it is down 1.58% over the past month. The surge above $10,000 represents a noticeable increase in investor demand and interest in the cryptocurrency and potential Ethereum Spot ETF In 2024.
Crypto analyst Ali Martinez said: exposed Ethereum’s TD Sequential is currently showing a “buy signal” on ETH’s daily price chart. He said Ethereum witness a rebound The recent price decline has resulted in a decline of 1 to 4 candlesticks.
Charts from Tradingview.com