Ethereum
Expert Sets Timeline for When Ethereum Price Will Start Reaching $10,000 — TradingView News
A cryptocurrency analyst has 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) announced the timeline for Ethereum’s rise above $10,000. According to Yoddha, Ethereum is expected to rebound massively after a period of accumulation and decline, to continually exceed $10,000 by the end of the year.
The analyst’s ambitious predictions are based on the historical trends exhibited by Ethereum from 2016 to 2024. He shared a chart depicting Ethereum’s price performance over those years, highlighting periods of accumulation, intermediate peaks and volatility.
Yoddha revealed that between 2019 and 2021, Ethereum experienced an accumulation period 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 has identified a similar accumulation phase in Ethereum’s price movements during the current market cycle. The analyst noted that from 2022 to early 2024, Ethereum experienced an accumulation and slightly bearish phase.
Before reaching an all-time high of $4,088 on March 12, 2024, Ethereum had seen a downtrend in 2022 and 2023. The cryptocurrency also saw declines several times in 2024, notably around April and May.
Yoddha indicated that Ethereum has successfully concluded this period of accumulation and decline and is about to witness a massive rally towards $15,346, which will extend until the end of 2024.
Analyst Says ETH Could Kickstart Altcoin Season
In another X article, Yoddha 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 herald the biggest altcoin season, encompassing healthy pullbacks and new all-time highs.
Currently, the Ethereum price is trading at $3,024, reflecting a 1.58% decline 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 increase in demand and investor interest in the cryptocurrency as well as the introduction potential of an Ethereum Spot ETF in 2024.
Crypto analyst Ali Martinez revealed that currently, Ethereum’s TD Sequential is showing a “buy signal” on the ETH daily price chart. He predicts that Ethereum could see a rebound of one to four candlesticks from the recent price decline.