FameEX Hot Topics | Why Ethereum Could Reach $10K in the Next Bull Cycle

Bullish fractals, long-term technical patterns, and favorable macroeconomic trends suggest Ethereum (ETH) could reach $10,000 by 2025. The first indication of this target is the resemblance to a previous price fractal observed between January 2023 and March 2024, according to Julien Bittel, head of macro research at Global Macro Investor.

In the 2023-2024 fractal, ETH's price consolidated between $1,500 and $2,000 before breaking out to $3,500. The current price action mirrors this pattern, following a similar consolidation phase. If Ethereum maintains its current momentum, it could see a bullish breakout, potentially driving it towards the $10,000 mark by year-end, as suggested by Bittel.

The second major factor supporting Ethereum’s potential rise to $10,000 involves another fractal, including a long-term Fibonacci retracement graph, exponential moving averages (EMA), and the relative strength index (RSI) on the weekly chart. Ethereum's historical price action during past bull runs (2017-2018 and 2020-2021) exhibited parabolic growth followed by sharp corrections.

If Ethereum follows this trajectory, a rally from its 2022 low of $1,080 would place the 1.618 Fibonacci extension at $6,978 and the 2.618 extension at $10,623. Currently, Ethereum's weekly chart shows it attempting to reclaim the 50-week EMA at $2,749, while the 200-week EMA at $2,104 has historically indicated the bottom of major corrections.

Furthermore, the RSI is neutral at 46, suggesting there’s considerable room for further upward momentum. If Ethereum can reclaim these key levels and sustain its momentum, it could realistically hit targets of $6,978 and potentially reach $10,623, following historical fractal patterns and technical indicators. This points to a promising bullish outlook for Ethereum's price in the coming years.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.