As Ethereum gains traction in the crypto market today, its price remains stable, staying robustly above the $2,700 threshold. In recent times, ETH has outperformed many major cryptocurrency assets, including Bitcoin. Analysts are optimistic, suggesting that this upward momentum could lead to new all-time highs in the budding bull market.
Is a $10,000 Ethereum Within Reach?
Even though Ethereum hasn’t yet achieved a new peak this market cycle like some of its counterparts, it remains one of the most successful cryptocurrencies thus far. The recent stability in its pricing has reignited hopes for a potential surge to new heights before the conclusion of this market period.
With ETH trading close to crucial support levels, crypto analyst Venturefounder has highlighted its journey toward an unprecedented milestone for the next year. His forecast hinges on several key indicators and trends visible on the monthly chart. Central to this perspective is the likelihood of the $4,000 mark converting into robust support.
Venturefounder’s analysis shows a significant rising trend since 2017, suggesting a prolonged bullish phase for ETH. This positive outlook is reinforced by a forming bullish crossover evident in the Moving Average Convergence Divergence (MACD) chart.
As the end of May approaches, the expert emphasizes that if the altcoin can close above the $2,500 level, this could initiate substantial price movement. The completion of a bullish crossover on the monthly MACD before the close of May would serve as a foundation for further positive trends.
The combination of securing a monthly close above $2,500 and finalizing the MACD bullish crossover positions Ethereum to rally towards the next target of $4,000. According to Venturefounder, $4,000 is poised to become the basic support level in a thriving market scenario.
Should Ethereum manage to convert this significant resistance into support by the fourth quarter of this year, the prospect of a significant surge to $10,000 by 2026 appears increasingly plausible. However, in a bearish scenario, Venturefounder posits that ETH could fluctuate between $1,400 and $4,000.
Final Surge on the Horizon?
The potential trajectory for ETH reaching a new all-time high during this market cycle looks promising. Crypto expert Merlijn The Trader has predicted a significant upward movement after scrutinizing the current price trends and prior patterns reminiscent of Bitcoin’s performance.
Merlijn The Trader notes that Ethereum tends to mirror Bitcoin’s trajectory, wherein both cryptocurrencies usually break new highs following the retesting of their former peaks. In earlier cycles, ETH and BTC achieved impressive gains of +234% and +540% respectively after reclaiming their prior high points.
With BTC having recently taken off again, the expert suggests that it is just a matter of time before ETH follows suit. When that occurs, Merlijn forecasts an explosive price surge that could surpass the $14,000 threshold by 2026.
