{"id":611378,"date":"2025-06-04T20:30:44","date_gmt":"2025-06-04T20:30:44","guid":{"rendered":"https:\/\/wncen.com\/?p=611378"},"modified":"2025-06-04T15:23:00","modified_gmt":"2025-06-04T15:23:00","slug":"ethereum-eth-set-for-glorious-year-analyst-eyes-10000-target","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-set-for-glorious-year-analyst-eyes-10000-target\/","title":{"rendered":"Ethereum (ETH) Set For \u2018Glorious Year,\u2019 Analyst Eyes $10,000 Target"},"content":{"rendered":"

Ethereum (ETH) saw a significant upswing at the end of May due to the rumors of a spot ETH ETF (Exchange-Traded Funds) approval in the US. This bullish momentum propelled the token\u2019s price from the $3,000 price range to the $3,900 mark.<\/p>\n

Related Reading: Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty\u2019s Return<\/a><\/div>\n

After the approval, the second-largest cryptocurrency has shown a strong performance, consolidating between the $3,700 and $3,800 levels. Some crypto analysts believe ETH is preparing for a crucial test and eye bullish targets above the $10,000 price range soon.<\/p>\n

ETH\u2019s \u201cGlorious Year\u201d Depends On This Level<\/h2>\n

According to crypto analyst Jelle, a community sector is currently driven by a negative sentiment towards Ethereum. The bearish sentiment, seemingly fueled by Ethereum\u2019s failure to regain the $4,000 resistance level, has made \u201clots of people overcomplicate things here.\u201d<\/p>\n

As a result, Jelle urged investors not to panic, arguing there\u2019s no reason to \u201cflip bearish.\u201d The crypto analyst highlighted the key movements the King of Altcoins has seen in the past two weeks.<\/p>\n

Due to the spot ETH ETF approval, Ethereum broke out<\/a> of a multi-moth falling wedge pattern. At the time, ETH successfully regained the $3,600 price range and briefly tested the $3,900 price range.<\/p>\n

\"\"
ETH breaks out of a multi-month falling wedge pattern. Source: CryptoJelle on X<\/a><\/figcaption><\/figure>\n

After reclaiming this key support level, ETH has been consolidating above it, hovering between the $3,700 and $3,800 price range since May 28. According to the analyst, the cryptocurrency is \u201creclaiming the range lows of a 3-year-long reaccumulation range.\u201d<\/p>\n

Per Jelle\u2019s chart<\/a>, ETH is regaining the lowest range of the previous bull run, which could lead to an expansion period. If the second-largest cryptocurrency by market capitalization holds above this key level, Ethereum \u201cwill have a glorious year.\u201d<\/p>\n

Additionally, the analyst considers that ETH\u2019s last hurdle to overcome this cycle is the $4,000 resistance level. Once \u201cit breaks $4,000, it’s clear skies ahead\u201d to potentially reach the price target of $10,000.<\/p>\n

Similarly, known crypto analyst Il Capo of Crypto noted<\/a> that his main scenario is a bullish continuation. Per Il Capo, Ethereum is \u201clooking good\u201d above the $3,650 range. This performance seemingly sets the cryptocurrency for a \u201cbullish continuation\u201d towards the previous cycle\u2019s all-time high (ATH).<\/p>\n

Ethereum ETFs, The Catalyst For New ATH?<\/h2>\n

Despite the doubts, Ethereum\u2019s recent performance resembles Bitcoin’s (BTC) in previous cycles. According to crypto trader Ash, ETH is following<\/a> the path of the flagship cryptocurrency in 2018-2021. If it continues this track, \u201c$10,000+ ETH is programmed.\u201d<\/p>\n

As the crypto market awaits the listing of the spot ETF, some analysts consider it the catalyst for an \u201cexplosive\u201d alt season this year.<\/p>\n

Similarly, Ali Martinez noted<\/a> that over 777,000 ETH, worth around $3 billion, have been withdrawn from exchanges since the US Securities and Exchange Commission (SEC) approved the investment products. Due to a supply squeeze, this development could propel ETH\u2019s price to higher levels.<\/p>\n

However, Lookonchain recently revealed<\/a> that two participants of Ethereum\u2019s Initial Coin Offering (ICO) deposited around 4.5% of their holdings on a crypto exchange. Per the post, the ICO participants received 200,000 ETH, worth around $767 million, at Ethereum\u2019s Genesis.<\/p>\n

Related Reading: The Half-Million Dollar Bitcoin: Predictions Point To Monumental Price Surge In 18 Months<\/a><\/div>\n

The holders deposited 9,518 ETH, or $36.33 million, into Kraken on Monday, which has alarmed investors. Despite the fear of a possible dump, some community members think this movement could suggest that these long-term holders<\/a> believe ETH\u2019s price will reach unprecedented highs soon.<\/p>\n

\"ETH,
ETH is trading at $3,761 in the biweekly chart. Source: ETHUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) saw a significant upswing at the end of May due to the rumors of a spot ETH ETF (Exchange-Traded Funds) approval in the US. This bullish momentum propelled the token\u2019s price from the $3,000 price range to the $3,900 mark. Related Reading: Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty\u2019s Return After the approval, the second-largest cryptocurrency has shown a strong performance, consolidating between the $3,700 and $3,800 levels. Some crypto analysts believe ETH is preparing for a crucial test and eye bullish targets above the $10,000 price range soon. ETH\u2019s \u201cGlorious Year\u201d Depends On This Level According to crypto analyst Jelle, a community sector is currently driven by a negative sentiment towards Ethereum. The bearish sentiment, seemingly fueled by Ethereum\u2019s failure to regain the $4,000 resistance level, has made \u201clots of people overcomplicate things here.\u201d As a result, Jelle urged investors not to panic, arguing there\u2019s no reason to \u201cflip bearish.\u201d The crypto analyst highlighted the key movements the King of Altcoins has seen in the past two weeks. Due to the spot ETH ETF approval, Ethereum broke out of a multi-moth falling wedge pattern. At the time, ETH successfully regained the $3,600 price range and briefly tested the $3,900 price range. After reclaiming this key support level, ETH has been consolidating above it, hovering between the $3,700 and $3,800 price range since May 28. According to the analyst, the cryptocurrency is \u201creclaiming the range lows of a 3-year-long reaccumulation range.\u201d Per Jelle\u2019s chart, ETH is regaining the lowest range of the previous bull run, which could lead to an expansion period. If the second-largest cryptocurrency by market capitalization holds above this key level, Ethereum \u201cwill have a glorious year.\u201d Additionally, the analyst considers that ETH\u2019s last hurdle to overcome this cycle is the $4,000 resistance level. Once \u201cit breaks $4,000, it’s clear skies ahead\u201d to potentially reach the price target of $10,000. Similarly, known crypto analyst Il Capo of Crypto noted that his main scenario is a bullish continuation. Per Il Capo, Ethereum is \u201clooking good\u201d above the $3,650 range. This performance seemingly sets the cryptocurrency for a \u201cbullish continuation\u201d towards the previous cycle\u2019s all-time high (ATH). Ethereum ETFs, The Catalyst For New ATH? Despite the doubts, Ethereum\u2019s recent performance resembles Bitcoin’s (BTC) in previous cycles. According to crypto trader Ash, ETH is following the path of the flagship cryptocurrency in 2018-2021. If it continues this track, \u201c$10,000+ ETH is programmed.\u201d As the crypto market awaits the listing of the spot ETF, some analysts consider it the catalyst for an \u201cexplosive\u201d alt season this year. Similarly, Ali Martinez noted that over 777,000 ETH, worth around $3 billion, have been withdrawn from exchanges since the US Securities and Exchange Commission (SEC) approved the investment products. Due to a supply squeeze, this development could propel ETH\u2019s price to higher levels. However, Lookonchain recently revealed that two participants of Ethereum\u2019s Initial Coin Offering (ICO) deposited around 4.5% of their holdings on a crypto exchange. Per the post, the ICO participants received 200,000 ETH, worth around $767 million, at Ethereum\u2019s Genesis. Related Reading: The Half-Million Dollar Bitcoin: Predictions Point To Monumental Price Surge In 18 Months The holders deposited 9,518 ETH, or $36.33 million, into Kraken on Monday, which has alarmed investors. Despite the fear of a possible dump, some community members think this movement could suggest that these long-term holders believe ETH\u2019s price will reach unprecedented highs soon. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":576067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[41995,428,1119,89447,10923,8323,89010,4854,1946,84307,78803],"class_list":["post-611378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altseason","tag-bitcoin","tag-btc","tag-crypto-analysts","tag-crypto-market","tag-eth","tag-eth-etfs","tag-ether","tag-ethereum","tag-ethereum-prediction","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum (ETH) Set For \u2018Glorious Year,\u2019 Analyst Eyes $10K Target<\/title>\n<meta name=\"description\" content=\"The strong performance of Ethereum above a key support level has made some analysts forecast a glorious second half of 2024 for ETH.\" \/>\n<meta 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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