As a seasoned crypto investor with a keen interest in Ethereum, I find Yoddha’s analysis intriguing and plausible based on historical trends. The accumulation phase Ethereum experienced from 2019 to 2021 and the subsequent significant rally to new all-time highs aligns well with my own observations of the market.
An expert crypto analyst has boldly forecasted that Ethereum (ETH), the second largest cryptocurrency, will experience a substantial surge in value, reaching new peak prices exceeding $10,000 within a defined timeframe.
Here’s When Ethereum Will Reach $10,000
A cryptocurrency analyst known as ‘Yoddha’ on X (previously Twitter) has shared his predictions for Ethereum’s price surge beyond $10,000. Based on Yoddha’s analysis, Ethereum is anticipated to experience a significant rally following a phase of accumulation and downturn, ultimately surpassing the $10,000 mark before year-end.
An analyst’s bold forecasts are grounded in Ethereum’s past behaviors observed from the years 2016 to 2024. He presented a graph illustrating Ethereum’s price fluctuations during this timeframe, emphasizing phases of accumulation, intermediate peaks, and volatility.
From 2019 to 2021, Ethereum underwent a phase of accumulation, characterized by numerous price swings – both prolonged decreases and brief recoveries. However, towards the end of 2021, Ethereum experienced a substantial increase in value, peaking at $4,867. This price level corresponds with Ethereum’s all-time high of $4,878, attained during the prior bull market run in 2021.
According to historical patterns observed by Yoddha, the Ethereum market has been displaying a comparable build-up stage during this present economic trend. From around 2022 up until early 2024, Ethereum underwent an accumulation period with a slightly bearish inclination.
Before hitting its all-time high of $4,088 on March 12, 2024, Ethereum had been following a downward trend since the beginning of 2022 and through 2023. The digital currency encountered setbacks multiple times in 2024, most notably around April and May.
As an analyst, I’ve noticed Yoddha’s prediction that Ethereum has completed its accumulation phase and bears signs of an upcoming bull run. By the end of 2024, Ethereum is expected to surge towards a price point of $15,346.
Analyst Says ETH Could Start Altcoins Season
In a previous post on X, Yoddha hinted at the potential beginning of the next altcoin boom with Ethereum leading the way. The cryptocurrency expert has repeatedly stressed the approaching altseason in 2024.
Yoddha shared that the interest in altcoins is expected to increase as the hype surrounding meme coins lessens. Furthermore, he predicted that the year 2024 could bring about a significant surge in altcoins, marked by notable corrections and new record-breaking highs.
As a crypto investor, I’m currently observing Ethereum trading at $3,024 on the markets, representing a 1.58% drop over the past month based on data from CoinMarketCap. To reach new heights above $10,000, Ethereum must surge by an impressive $7,000 or more. This anticipated growth can be attributed to heightened investor interest and demand for the cryptocurrency, as well as the potential introduction of an Ethereum Spot ETF in 2024.
Expert analysis by Ali Martinez indicates that Ethereum’s TD Sequential indicator is currently signaling a “buy opportunity” on the cryptocurrency’s daily price chart. He anticipates Ethereum may experience a rebound of approximately 1 to 4 candlesticks following its recent price downturn.
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2024-05-17 20:11