Ethereum’s native token, $ETH , is showing signs of a potential surge to $10,000 in the coming months, driven by a combination of bullish fundamental and fractal indicators, according to Cointelegraph.
The first significant factor supporting this prediction is the resemblance of Ethereum’s current price action to a previous price fractal observed between January 2023 and March 2024. Julien Bittel, Head of Macro Research at Global Macro Investor, notes that during this period, ETH’s price consolidated between $1,500 and $2,000 before breaking above $3,500. The current price action mirrors this earlier consolidation phase, suggesting that a similar bullish breakout could occur if the price continues to follow this pattern. Bittel identifies $10,000 as an achievable year-end target for Ether.
Another key catalyst for Ether’s potential rally to $10,000 is a fractal analysis involving a long-term Fibonacci retracement chart, exponential moving averages (EMAs), and relative strength index (RSI) on Ethereum’s weekly chart. Historically, ETH’s price action has shown similarities between the 2017-2018 and 2020-2021 bull periods, characterized by sharp corrections following parabolic growth. In the current setup, a rally from its 2022 low at $1,080 places the 1.618 Fibonacci extension at $6,978 and the 2.618 extension at $10,623. Ethereum’s weekly chart indicates an attempt to reclaim the 50-week EMA, currently around $2,749, while the 200-week EMA at $2,104 has historically marked the bottom of major corrections. The RSI is neutral at 46, suggesting room for further upside if momentum shifts. If Ether reclaims key levels and momentum strengthens, it could reach targets like $6,978 and possibly $10,623, following historical fractal patterns and technical indicators.
The third reason for Ethereum’s potential $10,000 price is broader macroeconomic trends, particularly growth in the global M2 money supply. Bitcoin’s price has historically moved in line with changes in M2 money supply growth from major central banks like the Federal Reserve, European Central Bank, and Bank of Japan. From 2011 to 2020, Bitcoin saw significant price gains during periods of aggressive M2 expansion, benefiting from inflation concerns and increased liquidity. While 2022 saw M2 growth contract, 2024 shows the first signs of a reversal, as central banks ease monetary policy in response to economic uncertainty. Given that Bitcoin and Ethereum share a positive correlation, a further surge in Bitcoin’s price amid global liquidity expansion could also push Ethereum higher, making $10,000 a realistic target.
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