CandleFocus Ethereum (ETH) Price Could Skyrocket to $10,000, Analyst Predicts Based on Techincal Patterns
2024-10-24
Author: Content Editor
Cryptocurrency analysts believe that Ethereum's price could reach as high as $10,000 per ETH, based on technical analysis. By examining the ascending trendline pattern formed with symmetrical triangles, traders predict that a third breakout could lead to a 280% price increase. The analysts note that previous breakouts resulted in a 70% and 140% increase in Ethereum's price. However, it is important to confirm a valid break by looking for a surge in volume and consecutive closes beyond the trendline. Additionally, a discrepancy in transaction revenue between Ethereum and Layer 2 solutions suggests that the valuation model for Ethereum may need updating, potentially impacting the price target.
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