Analysis Finds Pattern that Could Take Ethereum to $10,000

Ethereum (ETH) is still struggling to get traction, even though SEC has approved ETH ETFs. ETH ETFs were not as popular as Bitcoin ETFs that helped to push BTC’s price up.

ETH’s daily chart shows a decline of 1.2%, while the weekly and 14-day charts show a drop of 7%, respectively. The monthly chart has seen a slight increase of 0.7%, while the yearly chart shows a gain of 29.3%.

While ETH had a tough year in 2024 the asset could be heading to a record high.

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Experts predict Ethereum may hit $10,000

According to prominent cryptocurrency analyst Ali Martinez, ETH’s movements mimic the S&P 500. According to the analyst, the recent dip will be the final one before the asset price triples. A rally of around 311% will be required to reach $10,000 at current prices. The second-largest cryptocurrency project in terms of market cap will reach a record-breaking price when it reaches $10,000.

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CoinCodex analysts don’t expect ETH to break out anytime soon. The platform forecasts ETH trading at $2,500 levels for much of November before hitting $2,516.27 in 2024.

Analysts at Changelly also don’t expect Ethereum (ETH), to reach $10,000 any time soon. According to the platform, ETH is expected to hit $10,123.50 around four and a quarter years later, in March 2028.

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Telegaon analyst also predicted that ETH would surpass the $10,000 mark in 2028. Platform predicts ETH could trade for a maximum of $10,562.86 by 2028.

Ethereum (ETH), the cryptocurrency, may rise after the US Presidential elections. Analysts have said that the cryptocurrency markets would rise if Donald Trump becomes president. It remains to see how ETH moves.