Cryptocurrency enthusiasts are once again showing confidence. Ethereum, The second largest digital asset capacity in the ongoing cycle, some experts believe ETH could witness a historic price rise to unprecedented heights at the peak of this bullish cycle. I predict that. These experts point to past market trends and ETH's strong growth as key indicators of ETH's long-term potential.
Ethereum’s massive rally could depend on a significant breakout
Ethereum price is on the verge of history as cryptocurrency analyst and investor Trader Tardigrade predicts a big jump for Ethereum to all-time highs, especially $10,000, a milestone in the current bull cycle. may be set for an upward trend.
market experts shared A bold prediction about the X (formerly Twitter) platform. This is part of a larger belief that altcoins can be the harbingers of something long-awaited. altcoin season. Trader Kumamushi made this prediction after observing ETH's performance from several past breakouts from a symmetrical triangle pattern on an uptrend line.
Analysts in the X-Post highlighted that the altcoin is currently trading on a symmetrical triangular uptrend line, which could signal the beginning of a significant price surge. Specifically, this pattern appears when a descending line connecting highs and an ascending line connecting lows converge, suggesting a period of consolidation before a possible downward or upward breakout.
According to Tardigrade, since 2022, Ethereum has formed approximately three symmetrical triangles on the uptrend line. The first breakout of the bullish pattern caused a price increase of over 70%, and the second breakout from the formation caused a rise of more than 140% in the crypto asset.
Tardigrade, on the other hand, says: altcoin You have broken through the third symmetrical triangle. As a result, experts predict that ETH could reach the $10,000 milestone if the current breakout generates an increase of more than 280%, which is double the previous rise. It is predicted that this will happen.
ETH and ethereum blockchain networkcoupled with bullish market sentiment, this symmetrical triangle breakout could act as a trigger for explosive growth in the coming months.
ETH’s recent price increase momentum turns bearish
Today, the overall crypto market showed negative movement, halting new momentum in major crypto assets like Ethereum. Economic downturn appears to have triggered a bearish outlook Ethereum Since last Thursday, the altcoin has been approaching the $2,600 level again.
ETH is currently worth $2,632, down nearly 3% in the past 24 hours. This bearish move had an impact investorTraders' confidence in ETH was highlighted by the market capitalization and trading volume decreasing by approximately 2.65% and 13.83% in the past day.
Featured image from Unsplash, chart from Tradingview.com
