Is ETH about to take off? Target of $10,000?

Ethereum has once again become the focus today—breaking through $3,400 for the first time in five months, and technically showing a classic inverted head and shoulders pattern, which is a strong bullish signal, typically indicating that a significant market movement is brewing.

eTH/BTC has rebounded by 50%, potentially driven by whales and institutions continuing to build positions.

Technically, it has just broken through the bullish flag pattern.

Analysts say: "ETH is super bullish!" The mid-term target is $6,000, and the long-term target aims directly at $10,000!

However, be aware:

They also remind that before the rise, there may be a pullback to around $2,800 for a consolidation phase before continuing to rise.

Why is ETH so strong?

Institutional funds are clearly flowing back

ETH/BTC structure is strengthening

Weekly RSI has started to rebound after being oversold (a replica of the 2019 trend?)

Well-known analysts VirtualBacon and Michaël van de Poppe are optimistic about ETH's future performance, believing that ETH/BTC has another 30% upside potential, which will further drive the USD price upwards.

What do you think?

Can ETH really break out into an independent market? Is $10,000 possible?

Or is it just a short-term spike under "warming sentiment"?