Look!!! Will Ethereum hit a historic high? ETH may see a $10,000 explosion!

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The recent Ethereum chart depicts a potential head and shoulders pattern, laying the groundwork for a major breakout. The current price is around $3,450, and ETH is testing a key support level. Once it breaks the neckline resistance at $4,000, the rebound target could potentially aim for $10,450, representing a rise of up to 265%.

This pattern is seen as a healthy sign of the price building momentum. Once broken, the historical high of $4,800 will become a key milestone, increasing the chances of reaching a five-digit threshold. Meanwhile, Ethereum's dominance in the NFT and DeFi sectors, along with continuously improving network infrastructure, provides strong support for the bullish outlook.

However, if ETH cannot hold the $3,450 support, it may retract to $3,200 or lower. Falling below the 200 EMA (approximately $2,700) would undermine the bullish trend, and the market could enter a long-term adjustment.

The external market environment and trading volume will become key variables. Investors need to closely monitor whether Ethereum can break through $4,000, as this will determine if it can usher in the next round of explosive growth.

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