#ETHBreaksATH Analyst: ETH could remain bullish "for years" with a megaphone pattern pointing to $10,000
Ether traders claim that a multi-year bullish cycle has begun, with $10,000 as the desired target.
Analyst: ETH could remain bullish "for years" with a megaphone pattern pointing to $10,000
Market Analysis
Key points:
A bullish pattern on the ETH chart predicts a surge to $10,000, with $5,000 as a critical resistance level.
Analysts emphasize that short-term volatility could precede ETH's multi-year bullish expansion phase.
A surge to $5,100 could trigger $5 billion in short position liquidations.
Ether
ETH
€3874
continues to show bullish technical signals, and cryptocurrency analyst Jelle highlighted a "megaphone pattern" on the weekly chart pointing to the $10,000 mark.
The megaphone, also known as a widening formation, represents increasingly larger price swings with progressively higher highs and lower lows. A confirmed breakout above resistance often leads to explosive surges, but the structure can also turn bearish if momentum stalls.
Cryptocurrencies, Markets, Price Analysis, Market Analysis, Altcoin Watch, Ether Price, Ethereum Price
Weekly chart of Ether. Source: Cointelegraph/TradingView
Currently, immediate resistance holds at $5,000. Extending the position above this level would liquidate an estimated $5 billion in accumulated short positions, which could extend the megaphone surge.
Ether traders claim that a multi-year bullish cycle has begun, with $10,000 as the desired target.
Analyst: ETH could remain bullish "for years" with a megaphone pattern pointing to $10,000
Market Analysis
Key points:
A bullish pattern on the ETH chart predicts a surge to $10,000, with $5,000 as a critical resistance level.
Analysts emphasize that short-term volatility could precede ETH's multi-year bullish expansion phase.
A surge to $5,100 could trigger $5 billion in short position liquidations.
Ether
ETH
€3874
continues to show bullish technical signals, and cryptocurrency analyst Jelle highlighted a "megaphone pattern" on the weekly chart pointing to the $10,000 mark.
The megaphone, also known as a widening formation, represents increasingly larger price swings with progressively higher highs and lower lows. A confirmed breakout above resistance often leads to explosive surges, but the structure can also turn bearish if momentum stalls.
Cryptocurrencies, Markets, Price Analysis, Market Analysis, Altcoin Watch, Ether Price, Ethereum Price
Weekly chart of Ether. Source: Cointelegraph/TradingView
Currently, immediate resistance holds at $5,000. Extending the position above this level would liquidate an estimated $5 billion in accumulated short positions, which could extend the megaphone surge.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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