đ¨đ¨đ¨Ethereum Price Stagnant at $2.5K, But Analysts Say $10K Could Be Nextđ
While Ethereum (ETH) trades steadily around $2,500, analysts believe the current consolidation phase could be masking a much bigger move. A combination of strong on-chain fundamentals, rising total value locked (TVL), and whale activity suggest that ETH may be preparing for a major breakoutâpossibly targeting the $10,000 mark.
Though Ethereumâs price has seen limited volatility in recent weeks, the data behind the scenes tells a more dynamic story.
Chart Signals $10K Potential
Crypto analyst MilkybullCrypto recently identified a long-term wedge formation on Ethereumâs chartâa pattern that, historically, has broken to the upside. The upper resistance band in this setup points to a potential $10,000 price target, assuming bullish momentum continues.
Ethereum is also nearing a key trendline, typically signaling imminent price action. When paired with the broader Layer 1 recovery, notably Solana (SOL) and Tron (TRX) gaining traction, many see Ethereum as quietly building strength.
Market watchers note that similar wedge patterns in past cycles have preceded explosive ETH rallies, suggesting this calm could be the prelude to a significant surge.
Ethereum Ecosystem Shows Renewed Strength
Beyond price, Ethereumâs network fundamentals are strengthening.
In early May, ETH saw a sharp rise in whale transactions, with transfers over $1 million reaching a 5-month highâoften a sign of institutional accumulation.
Additionally, TVL has recovered sharply, rebounding from under $55 billion in April to nearly $63 billion in May, according to on-chain data. Daily ETH inflows stand at $41.9 million, and the network maintains 361,000 active addresses, signaling robust user engagement.
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