Ethereum Price: ETH Season Begins in 3 Days, Will it Hit $10,000?

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As a seasoned researcher with over a decade of experience in the cryptocurrency market, I have witnessed and analyzed numerous bull runs and bear markets. I have always been intrigued by Ethereum‘s unique price action, and its historical returns have never failed to impress me. The upcoming days could be pivotal for ETH, as it seems primed to kickstart a massive uptrend.

The Cup-and-Handle setup on Ethereum’s chart is massively bullish, hinting at a potential price target of $10,000 or even beyond. However, I must emphasize that Bitcoin‘s performance is crucial here. If BTC ends its bearish slump and triggers a rally with the start of a new year, as Crypto Rover suggests, we might just be on the verge of an ETH Season.

However, as cautious as I am optimistic, I would advise investors to tread carefully. The head-and-shoulders setup forming in Bitcoin could potentially see it slip to $80K. If this happens, it could invalidate Ethereum’s bullish outlook and potentially trigger ETH to crash to $2,600.

In the world of cryptocurrencies, nothing is certain until it happens. As they say in the crypto world, “Never invest more than you can afford to lose, but always hope for the moon!” So, let’s wait and see if 2025 turns out to be an ETH Season indeed!

And remember, when it comes to predicting cryptocurrency prices, even a broken clock is right twice a day!

Based on Ethereum’s (ETH) past performance, the upcoming days are crucial and it seems poised to initiate a significant upward momentum. This perspective, coupled with the highly bullish Cup-and-Handle formation, suggests that the Ether price might reach $10,000 in the near future.

Ethereum Price to Enter ETH Season Soon

Based on past performance, Ethereum’s price has seen significant surges during the first quarters. If history tends to repeat or follow a similar pattern, Ethereum could initiate a remarkable surge in January 2025. The graph below illustrates the contrast between Bitcoin (BTC) and Ethereum. Unlike Bitcoin which experiences a substantial increase in Q4 annually, Ethereum’s dramatic phase begins later, typically in Q1.

Based on the analysis of well-known cryptocurrency expert, Crypto Rover, it’s anticipated that ETH Season could commence within the next 3 days, marking the beginning of quarter 1 in the year 2025. This prediction hinges upon Bitcoin emerging from its current bearish trend and initiating an upward rally as we welcome a new year.

#Ethereum season starts in 3 days.

We’re about to get incredibly rich.

— Crypto Rover (@rovercrc) December 28, 2024

Historically, Ethereum’s price seems optimistic for growth. However, let’s examine technical factors that might propel Ether towards five-digit figures, as it approaches a potential breakout from an extremely bullish chart configuration.

ETH Technical Analysis: Ethereum’s Cup & Handle Pattern Forecasts $10,000 Target

As an analyst, I’ve observed an intriguing development in ETH’s price trend since October 2021: the emergence of a substantial, long-term cup and handle pattern. This bullish configuration, as the name implies, includes a rounded base, or “cup,” followed by a mild correction, either a descending parallel channel or another rounded base known as the “handle.”

This technical setup also features a significant resistance level that aligns with the crucial swing points of this cup and handle pattern. A reversal of this level into a support platform would be crucial in validating a successful breakout from this pattern.

To date, Ethereum’s price has made several attempts to surge past its current barriers, yet these efforts have fallen short. However, the advent of the new year might offer enough momentum for it to overcome those hurdles, initiating an uptrend.

As a researcher studying Ethereum price trends, my analysis utilizing the Cup and Handle forecasting techniques suggests a more conservative estimate of approximately $6,078 and an extended projection of around $12,480. The conservative target is calculated by determining the cup’s depth from its highest point on the right and adding it to the breakout point following the handle. The extended target for Ethereum price significantly exceeds the psychological barrier of $10,000, aiming as high as $12,480.

With Ethereum’s technical analysis and historical data pointing towards a positive price trend, it’s crucial for investors to exercise caution regarding Bitcoin. At present, Bitcoin hovers around $93K and exhibits potential for further decline, potentially dipping down to $80K. Notably, experienced trader Peter Brandt has identified a bearish head-and-shoulders pattern in Bitcoin, which could theoretically lead to a drop as low as $78K if this pattern plays out.

If Bitcoin continues its downturn, it might undermine the optimistic forecast for Ethereum and possibly cause Ethereum’s price to plummet to around $2,600.

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2024-12-30 17:58