Ethereum Price Repeats 2017 ‘Bullish Megaphone’ Pattern—Why $10,000 Is Possible
Ethereum's price has created a crucial technical pattern resembling 2017's bull rise. The "Bullish Megaphone" pattern might lead to ETH prices reaching $10,000, according to a crypto expert.
A Blockchain and crypto technical expert on X (previously Twitter) projected Ethereum might reach $10,000 shortly. The expert says Ethereum's price behavior resembles the Bullish Megaphone chart pattern from the 2016–2017 bull market.
The Bullish Megaphone pattern, with two higher highs and two lower lows, suggests a bitcoin rally continuation. Bullish technical pattern: cryptocurrency price breaks above trend line with increased volume.
The analyst's Ethereum price chart from 2016 to 2017 and 2024 to 2025 show the bullish megaphone pattern in both bull cycles. After the 2017 technical pattern, Ethereum's price soared, topping $1,200 by 2018.
EtherNasyonal believes that if Ethereum follows this pattern in the bull market, it might trigger a significant price spike beyond $10,000. Ethereum is now trading at $3,353, up 7.24% in seven days, according to CoinMarketCap. Ethereum would rise 198% to $10,000 at its current pricing.
The expert also expects cryptocurrencies to follow Ethereum's upward trend. This bullish cycle may affect altcoins due to ETH's price increase.
Is Altcoin Season Here?
Ethereum often kicks off the highly anticipated cryptocurrency season. After a spectacular bull run, Bitcoin's dominance tends to diminish, but altcoins usually follow suit, with Ethereum leading the way.
MikyBull Crypto, a notable X analyst, claimed that altcoin season has started for this bull cycle. Altcoin season begins following Bitcoin's consolidation period, when smaller-cap cryptocurrencies gain strongly.
For investors and the crypto market, MikyBull Crypto predicts “the real fun” of altcoin season from late December 2024 to March 2025. This predicts that the altcoin market will rise, with several small-cap coins rising in price.
#ETHPriceSurge #BTC100KToday? #ETH $ETH
