#ETHBreaks3700 💥Ethereum could reach USD 18,000 in this cycle, according to analyst

Based on Elliot waves, ETH may be about to complete its bullish cycle 2019-2025. There is an indicator that suggests an increase in ETH beyond the estimated, according to Gert van Lagen.

Several indicators point to an imminent bullish rally for Ethereum.

Ether (ETH), the cryptocurrency of the Ethereum network, is accumulating powerful bullish strength. So much so that, if the market maintains the current trend, the asset could complete its bullish cycle that started in 2019 and reach USD 18,000 this year.

This is how analyst Gert van Lagen presents it, who bases his projection on the technical analysis of Elliot waves. This methodology identifies repetitive patterns in the price behavior of an asset, in this case ETH, to foresee future movements. According to the specialist, ETH is currently in the fifth and final wave of the cycle, an "expanding diagonal" that could lead to a significant surge.

Van Lagen argues that each of the sub-waves within this structure has been corrective, and that the current one — the "V" wave — should break the megaphone pattern formed between waves 3 and 4, thus completing the "a" wave of the pattern. Subsequently, a brief correction is expected, which will function as a technical retest, followed by an explosive "b" wave, he explained.

The Elliot wave model consists of a sequence of five movements: I (impulse), II (strong correction), III (explosive movement), IV (lateral consolidation), and V (final expansion). In the case of ETH, van Lagen argues that the current "c" wave is impulsive and could go much further than the expanding wedge figure.

In that context, the analyst emphasized: "My main target remains 18,000 dollars", as for him, ETH "is about to complete its bullish cycle 2019-2025".