A crypto analyst has made a bold 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.
This is when ethereum will hit $10,000
A crypto analyst identified as 'Yoddha' on x (formerly twitter) has x.com/cryptoyoddha/status/1790111597559492645?s=46″ rel=”nofollow”>Announced the timeline for ethereum's rise above $10,000. According to Yoddha, ethereum expected to recover massively after a period of accumulation and decline, continuously rising above $10,000 by the end of the year.
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the analyst ambitious predictions They are based on the 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 revealed that from 2019 to 2021, ethereum witnessed a period of accumulation marked by multiple price fluctuations, including long declines and brief 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 market's previous bull cycle in 2021.
Based on these historical trends, Yoddha identified a similar accumulation phase in ethereum price movements during this current market cycle. The analyst noted that from 2022 to early 2024, ethereum saw an accumulation and slightly bearish phase.
Before reaching an all-time high of $4,088 on March 12, 2024, ethereum had experienced a bearish trend in 2022 and 2023. The cryptocurrency also faced falls 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, which will extend until the end of 2024.
Analyst Says eth Could Start Altcoin Season
In other x.com/cryptoyoddha/status/1789196242419167366?s=46″ rel=”nofollow”>x publicationYoddha indicated that ethereum-breakout/” rel=”nofollow”>ethereum could start the next altcoin season. The crypto analyst has consistently emphasized the imminent launch of the highly anticipated altcoin season in 2024.
He revealed that altcoins will start to gain more traction once the hype surrounding meme coins subsides. Furthermore, Yoddha x.com/cryptoyoddha/status/1789726991555403882?s=46″ rel=”nofollow”>revealed that 2024 could deliver the biggest altcoin season ever, encompassing healthy pullbacks and new all-time highs.
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Currently, the price of ethereum is trading at $3,024, reflecting a drop of 1.58% over the past month, according to CoinMarketCap. A rise above $10,000 will require the cryptocurrency to rise by more than $7,000, driven by a notable uptick in investor demand and interest in the cryptocurrency, as well as the possible introduction of a ethereum-analyst-says-sec-etf-nod-slim-to-none/” rel=”nofollow”>ethereum Spot ETF in 2024.
Cryptoanalyst Ali Martinez has x.com/ali_charts/status/1790682299387850852?s=46″ rel=”nofollow”>revealed Currently, ethereum's TD Sequential presents a “buy signal” on the daily eth price chart. Predicts ethereum Could witness a rebound one to four candles due to its recent price drop.
Chart by Tradingview.com
