The Ethereum price has fallen by 1% in the last week, falling to $3,097. However, while there is a general rise in the cryptocurrency market, analysts are making positive predictions about the future of Ethereum. Well-known analyst Ali Martinez predicted that Ethereum will follow the S&P 500 rally, surpass Bitcoin's $93,806 and ETH could reach $10,000.
“We’re not there yet in this cycle, but we’ll see it very soon,” Martinez said, noting that Ethereum tends to outperform Bitcoin in every market cycle. Although ETH experienced a 10% correction from the $3,400 level in November, the strong support level at $3,000 continues to attract investors’ attention. According to on-chain data, a total of 6.14 million Ethereum was collected by 2.82 million addresses at $3,000.
Whale Accumulation and Technical Data Support the Uptrend
Another crypto analyst, IamCryptoWolf, argues that if ETH breaks the $4,000 level, it could reach the $10,000 target. “Ethereum has formed rising lows and established a solid foundation over the last 2.5 years. Momentum is building slowly, but will accelerate once we break $4,000,” he said.
Furthermore, recent accumulations by Ethereum whales support these predictions. Since the beginning of November, whales have purchased 430,000 ETH, totaling $1.4 billion. These purchases indicate bullish potential, in line with Ethereum’s MVRV ratio, which shows a realized value lower than its market cap.
Ethereum is currently trading at $3,110, down 1% over the last 24 hours, but trading volume is down 23%. However, the 1% increase in futures open interest reinforces bullish signals. Ethereum’s future price movements are being closely monitored, depending on whale activity and market dynamics. Analysts say investors should take careful and strategic steps during this period.