{"id":560799,"date":"2023-11-15T23:00:13","date_gmt":"2023-11-15T23:00:13","guid":{"rendered":"https:\/\/wncen.com\/?p=560799"},"modified":"2023-11-15T13:06:12","modified_gmt":"2023-11-15T13:06:12","slug":"ethereum-destined-for-10000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-destined-for-10000\/","title":{"rendered":"Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000"},"content":{"rendered":"

Crypto analyst Tony The Bull, founder of CoinChartist, has revealed why Ethereum is destined to cross $10,000. According to the crypto analyst, the king of the altcoins<\/a> has its top just right after $10,000 using the Fibonacci extension.<\/p>\n

How Ethereum Gets To $10,000<\/h2>\n

In the latest issue of the CoinChartist newsletter<\/a>, crypto analyst Tony The Bull used the Hurst Cycle Theory which showed cyclical reoccurrence across the ETH\/USDT chart<\/a>. As the analyst explains, the uptrend noticed in the Ethereum charts has usually come from the accumulation of the token.<\/p>\n

Related Reading: Stunning Correlation Emerges Between XRP And XLM, What\u2019s Going On?<\/a><\/div>\n

Tony points out that this accumulation has always taken place \u201cat the bottom boundary of the Ending Diagonal pattern.\u201d The analyst further added that \u201cSince intracycle harmonics come in twos and threes, three cycles should complete one larger cycle that concludes with a breakdown of this Ending Diagonal pattern.\u201d<\/p>\n

Taking this Ending Diagonal Pattern into account, Tony reveals that the top of the pattern puts the ETH price<\/a> at $10,000. However, this is not the only pattern that suggests that the king of the altcoins will end up beating the $10,000 level.<\/p>\n

He also pointed out that the previous ETH rally<\/a> had started at the 0.5 Fibonacci extension and reached 1.414 the last time that the ETH price<\/a> peaked. The analyst notes that Ethereum is once again at the 0.5 Fibonacci extension which led to a break out in the price and the same could happen here. But this time, the target is able $10,000 if the 1.414 Fib is reached again.<\/p>\n

\"Ethereum<\/p>\n

ETH price reaches $2,019 | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
ETH Moves Into Overbought Territory<\/h2>\n
One interesting fact that the analyst points out in the newsletter is the fact that Ethereum is currently in overbought territory. However, where this would usually signal a bearish reversal coming for the digital asset<\/a>, Tony does not believe this is the case here.<\/p>\n
Rather, he explains that a cryptocurrency being overbought usually means that it is \u201ca powerfully trending asset.\u201d So even though it could lead to a reversal, it does not invalidate the bullishness of that digital asset.<\/p>\n
Related Reading: Analyst Predicts 8800% Ascent to $35 Cardano (ADA), Here\u2019s When<\/a><\/div>\n
He also mentions that \u201cthe Stochastic has confirmed a 1M above 80 on the Stock.\u201d Now, whenever this has happened for Ethereum, it has often resulted in a pushup for the price. At the same time, ETH<\/a> is moving to the upper Bollinger Band. Both of these setups could paint a bullish breakout for the asset.<\/p>\n
\"Ethereum<\/p>\n
Source: CoinChartist<\/pre>\n
However, the analyst warns that for this bullish scenario to play out, the Ethereum price would have to close above $2,450 this month. If the Stochastic moves back below 20, it could invalidate it and trigger a downtrend. \u201cBut if ETHBTC can push back above 20 this will generate a buy signal on the 1M Stochastic and kickstart Ether\u2019s over-performance above Bitcoin<\/a>,\u201d Tony concluded.<\/p>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from TronWeekly, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst Tony The Bull, founder of CoinChartist, has revealed why Ethereum is destined to cross $10,000. According to the crypto analyst, the king of the altcoins has its top just right after $10,000 using the Fibonacci extension. How Ethereum Gets To $10,000 In the latest issue of the CoinChartist newsletter, crypto analyst Tony The Bull used the Hurst Cycle Theory which showed cyclical reoccurrence across the ETH\/USDT chart. As the analyst explains, the uptrend noticed in the Ethereum charts has usually come from the accumulation of the token. Related Reading: Stunning Correlation Emerges Between XRP And XLM, What\u2019s Going On? Tony points out that this accumulation has always taken place \u201cat the bottom boundary of the Ending Diagonal pattern.\u201d The analyst further added that \u201cSince intracycle harmonics come in twos and threes, three cycles should complete one larger cycle that concludes with a breakdown of this Ending Diagonal pattern.\u201d Taking this Ending Diagonal Pattern into account, Tony reveals that the top of the pattern puts the ETH price at $10,000. However, this is not the only pattern that suggests that the king of the altcoins will end up beating the $10,000 level. He also pointed out that the previous ETH rally had started at the 0.5 Fibonacci extension and reached 1.414 the last time that the ETH price peaked. The analyst notes that Ethereum is once again at the 0.5 Fibonacci extension which led to a break out in the price and the same could happen here. But this time, the target is able $10,000 if the 1.414 Fib is reached again. ETH price reaches $2,019 | Source: ETHUSD on Tradingview.com ETH Moves Into Overbought Territory One interesting fact that the analyst points out in the newsletter is the fact that Ethereum is currently in overbought territory. However, where this would usually signal a bearish reversal coming for the digital asset, Tony does not believe this is the case here. Rather, he explains that a cryptocurrency being overbought usually means that it is \u201ca powerfully trending asset.\u201d So even though it could lead to a reversal, it does not invalidate the bullishness of that digital asset. Related Reading: Analyst Predicts 8800% Ascent to $35 Cardano (ADA), Here\u2019s When He also mentions that \u201cthe Stochastic has confirmed a 1M above 80 on the Stock.\u201d Now, whenever this has happened for Ethereum, it has often resulted in a pushup for the price. At the same time, ETH is moving to the upper Bollinger Band. Both of these setups could paint a bullish breakout for the asset. Source: CoinChartist However, the analyst warns that for this bullish scenario to play out, the Ethereum price would have to close above $2,450 this month. If the Stochastic moves back below 20, it could invalidate it and trigger a downtrend. \u201cBut if ETHBTC can push back above 20 this will generate a buy signal on the 1M Stochastic and kickstart Ether\u2019s over-performance above Bitcoin,\u201d Tony concluded. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from TronWeekly, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":560825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,86108,1946,7931,6931,84165,8686,78803],"class_list":["post-560799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-eth-price-prediction","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethereum-price-prediction","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000<\/title>\n<meta name=\"description\" content=\"Crypto 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-destined-for-10000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-destined-for-10000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-price.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-price.jpeg?fit=1024%2C536"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth news","eth price","eth price prediction","ethereum","ethereum news","ethereum price","ethereum price prediction","ethusd","ethusdt"],"dateCreated":"2023-11-15T23:00:13Z","datePublished":"2023-11-15T23:00:13Z","dateModified":"2023-11-15T23:00:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Breakout: Analyst Explains Why The King Of The Altcoins Is Destined For $10,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-destined-for-10000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-destined-for-10000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Ethereum-price.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Ethereum-price.jpeg?fit=1024%2C536\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth news\",\"eth price\",\"eth price prediction\",\"ethereum\",\"ethereum news\",\"ethereum price\",\"ethereum price prediction\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-11-15T23:00:13Z\",\"datePublished\":\"2023-11-15T23:00:13Z\",\"dateModified\":\"2023-11-15T23:00:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Ethereum-price.jpeg?fit=1024%2C536","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/560799"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=560799"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/560799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/560825"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=560799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=560799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=560799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}