Ethereum – the largest altcoin in the market – is approaching an important resistance threshold, which could pave the way for a strong price surge up to $10,000, according to the latest analysis from expert Ali Martinez.

Parallel Channel Pattern: Accumulation Signal Before Breakout?

According to Martinez, the ETH price chart on a weekly timeframe is moving within a horizontal parallel channel – a popular technical analysis pattern that indicates an accumulation phase when prices fluctuate within a range bounded by two parallel trend lines over time.

  • The upper line of the channel is a strong resistance level.

  • The lower line is a strong support level.

In the past two years, Ethereum has touched the resistance area around $4,000 three times but has been rejected each time. However, this time may be different.

"If ETH breaks above $4,000, we could see the next level at $10,000!" – Ali Martinez commented.

Why $10,000?

According to technical principles, when an asset breaks out of a parallel channel, the upward momentum can continue by a distance equivalent to the height of the channel. With the current height of the parallel channel that ETH is in, the technical target after the breakout could aim towards the $10,000 range.

New Money Is Flowing Into Ethereum

Not only technical analysis, on-chain data from Glassnode also shows positive signals:

  • The supply of Ethereum held by "First Buyers" has increased by 16% since the beginning of July.

"First Buyers" are first-time investors buying ETH – representing new money entering the market. This increase indicates positive sentiment and renewed demand for Ethereum.

Summary of Current Trend

Note For Investors

✅ If you are a long-term investor, ETH breaking above $4,000 could be a confirmation signal for the mid-term to long-term upward trend.

⚠️ However, there is no guarantee that ETH will break this resistance area immediately. The market may need more time to accumulate or make slight adjustments before breaking out.

🎯 A reasonable strategy at this time could be:

  • Closely monitor the price reaction around the $4,000 area.

  • Establish a trading strategy with a clear stop-loss.

  • Avoid FOMO – only enter a trade when there is real breakout confirmation.