The post Can Ethereum Price Break $10K? Bullish Momentum Suggests Potential  appeared on BitcoinEthereumNews.com.

Market analyst CryptoYoddha believes Ethereum price is heading for a bullish trajectory, capable of reaching $10,000 in the coming cycles. Looking at historical patterns, Ethereum’s price structure indicates a phase of accumulation and breakout. Furthermore, these insights are in line with Ethereum’s previous market cycles and thereby build more confidence to surge upwards in the long term. ETH/USDT|source Tradingview Ethereum’s price movement is starting to resemble the “W-X-Y” accumulations and breakouts of its earlier cycles (2018-2020 and 2021-2023). In terms of these cycles, Ethereum initially declined (marked “X”), consolidated (as marked as “Y”), and then rallied very high. – Advertisement – As per the CryptoYoddha chart, Ethereum now seems to be at a similar breakout point. That could be a move toward $10,000 with intermediate resistance, where $5,000-$6,000 acts as checkpoints. Ethereum price recently confirmed $2,400–$2,500 as a major accumulation zone, and a similar consolidation caused these before major rallies. Its current price of $3,419 places it near the next breakout phase, which further supports the optimistic outlook. Technical Indicators Strengthen Ethereum’s Bullish Case Ethereum price looked bullish, with higher lows holding onto its ascending trendline in the long term. This trendline has fuelled Ethereum’s previous major rallies, making CryptoYoddha’s bullish projection more confident. – Advertisement – Source: X Volatility poses some short-term resistance, but the wider technical perspective is that momentum should continue. Having these factors in mind, CryptoYoddha thinks Ethereum price has the potential to surpass $10,000 and should, therefore, not be underestimated in the coming months. Ethereum Price Daily Chart Golden Cross Confirms Bullish Momentum On the daily chart of Ethereum, we saw strong bullish momentum and a Golden Cross that also acted as a strong confirmation for the uptrend. 1-day ETH tradingchart|source Tradingview This technical indicator is identified when the 13-day moving average (MA) crosses over…

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Filed under: News - @ November 24, 2024 4:30 am