Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Expert Sets Timeline For When Ethereum Price Will Begin Rally To $10,000
A crypto analyst has made a daring prediction for Ethereum (ETH), setting the timeline 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 Reach $10,000
A crypto analyst identified as ‘Yoddha,’ on X (formerly Twitter) has announced the timeline for Ethereum’s ascent above $10,000. According to Yoddha, Ethereum is expected to rally massively after a period of accumulation and decline, continuously rising above $10,000 by the end of the year.
The analyst’s ambitious predictions are based on historical trends exhibited by Ethereum from 2016 to 2024. He shared a chart depicting Ethereum’s price action over these years, highlighting periods of accumulation, interim peaks and volatility.
Yoddha disclosed that from 2019 to 2021, Ethereum witnessed a period of accumulation marked by multiple price fluctuations, including long declines and short rallies. Following this, Ethereum surged significantly, reaching a peak of $4,867 towards the end of 2021. This price range aligns 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 a similar accumulation phase in Ethereum’s price movements during this current market cycle. The analyst noted that from 2022 to early 2024, Ethereum experienced an accumulation and slightly bearish phase.
Prior to reaching a record high of $4,088 on March 12, 2024, Ethereum had experienced a bearish trend in 2022 and 2023. The cryptocurrency also faced declines on several occasions in 2024, especially around April and May.
Yoddha has indicated that Ethereum has successfully concluded this accumulation and bearish period and is on track to witness a massive rally towards $15,346, extending into the end of 2024.
Analyst Says ETH Could Start Altcoins Season
In another X post, Yoddha indicated that Ethereum could start the upcoming altcoins season. The crypto analyst has consistently emphasized the impending launch of the highly anticipated altcoins season in 2024.
He revealed that altcoins will begin to gain more attraction once the hype surrounding meme coins diminishes. Additionally, Yoddha revealed that 2024 could issue the biggest altcoins season, encompassing healthy pullbacks and new all-time highs.
Presently, the price of Ethereum is trading at $3,024, reflecting a 1.58% decline over the past month, according to CoinMarketCap. A surge above $10,000 will require the cryptocurrency to jump by more than $7,000, fueled by a notable uptick in investor demand and interest in the cryptocurrency as well as the potential introduction of an Ethereum Spot ETF in 2024.
Crypto analyst, Ali Martinez has revealed that currently, Ethereum’s TD Sequential is presenting a “buy signal” on ETH’s daily price chart. He predicts that Ethereum could witness a rebound of one to four candlesticks from its recent price drop.
Bitcoin Bulls “Warming Up” As Spot ETF Inflows Exceeds $1.3 Billion In 2 Weeks
Option2Trade Holders Believe In Legitimacy After CEX Listing Announcement
Written by
More author posts
Publish your own article
Guest post article. Guaranteed publishing with just a few clicks
START PUBLISHING ADVERTISE WITH US