The article discusses three bullish factors that could contribute to Ethereum's price reaching $10,000. Firstly, Ethereum's price behavior resembles a fractal pattern observed between January 2023 and March 2024, indicating the potential for a breakout to $10,000. Secondly, technical analysis using Fibonacci retracement levels, moving averages, and the relative strength index suggests that Ethereum could reach $6,978 and $10,623. Finally, global macroeconomic trends, particularly M2 money supply growth, could support Ethereum's price increase, as seen historically with Bitcoin. The current price of Ethereum is $2,624.63.
- Content Editor ( crypto-news-flash.com )
- 2024-09-30
Ethereum (ETH) on Track for $10K: 3 Bullish Factors to Watch in the Next Cycle