ETH Going to $16K in This Cycle? Analyst Explains Why This Could happen.
Ether (ETH) hovered near $3,800 on Thursday as increasingly bullish price targets circulated on crypto social media, including one analyst who outlined a case for $16,000 based on long-term technical setups and sustained institutional inflows.
"Edward", a popular chart analyst on X, argued in a Thursday post that a five-digit ether price is now within reach, pointing to a "clean ascending triangle" formation on the monthly ETH chart. This structure, commonly seen as a pre-breakout pattern, mirrors technical conditions observed in 2020 - just before ether embarked on a 2,000% rally.
In Edward's view, a decisive breakout above $4,000 could trigger a similar move, with the triangle's projected vertical range implying potential upside toward the $15,000-$16,000 zone. "The structure is there. Demand is rising. Supply is capped," he wrote, noting that momentum and fundamentals appear to be aligning for the first time in years.
