📈️Experts predict: Ethereum price may hit $10,000 in this cycle!
Ethereum's price trend has recently become the focus of everyone's attention. Analyst Ted Pillows posted on X that the current trend of the altcoin market is strikingly similar to the 2015-2017 Bitcoin bull cycle. Through technical analysis, he found that Ethereum is "destined" to break the $10,000 mark and set a new record high in this cycle.
Pillows said that Bitcoin bottomed out between $201 and $205 from 2015 to 2017, and then soared all the way to $685 and $785, setting new highs. This surge occurred after Bitcoin broke through the $465 resistance level.
He feels that Ethereum is in a similar situation now, having completed the accumulation phase and recently breaking through key resistance levels. Although it is still consolidating and Ethereum prices have not risen sharply, Pillows emphasized the advantages of the total value of assets locked in the DeFi application field of the Ethereum network (TVL) and stablecoins in providing liquidity for it.
Pillows also mentioned the impact of institutional demand and accumulation. As these factors increase, Ethereum may gain more exposure, which may increase its long-term value. He also said that Ethereum's current inflation rate is lower than Bitcoin and 99% of the altcoins on the market.
Based on these positive factors, Pillows feels that the $5,000 target is too conservative, and he is more optimistic about the $10,000 forecast.
Although some investors may have chosen to panic sell with the recent decline in the price of ETH tokens; but whale investors with strong financial resources see this as a good opportunity to accumulate chips and have bought in large amounts.
According to the latest report from analyst Ali Martinez, Ethereum whales have been rapidly accumulating ETH in the past few weeks. Based on the above views, it is predicted that as market sentiment warms up and demand grows, the price of ETH is expected to rebound to a new historical high.
Overall, Ethereum's technical advantages, institutional interest and market dynamics have created good conditions for its rise, but investors still need to be wary of market fluctuations and look at short-term fluctuations and long-term potential rationally.
💬How high do you think Ethereum can go in this cycle? Do you favor the $10,000 target, or do you think $5,000 is more realistic? Leave a comment!
