Ethereum is currently experiencing a technical pattern that is very similar to what happened in 2017, when the cryptocurrency started one of the biggest bull runs in its history 📈🚀. According to cryptocurrency analyst EtherNasyonal, this pattern known as the “bullish Magnifier” could be a sign of a potential Ethereum price rally to $10,000 💰🌟.
Bullish Magnifier Pattern Paves Way Towards $10,000 🧐📊
Technical analyst EtherNasyonal on X (formerly Twitter) revealed that the current Ethereum price action is showing a historical pattern similar to what the market saw between 2016 and 2017 📜🕰️. This pattern is characterized by the formation of two higher highs and two lower lows, which usually indicates the continuation of an uptrend 🔝📶. This pattern becomes strongly bullish when the price breaks the trend line with an increase in trading volume 📉📈.
Analyzing the Ethereum chart from 2016 to 2017 and comparing it to the current period (2024-2025), it appears that the “bullish magnifier” pattern is repeating again 🔄✨. In 2017, this pattern led to a historic price surge for Ethereum that exceeded $1,200 by 2018 💥💸. EtherNasyonal believes that if the current pattern repeats, the coin could jump to unprecedented levels of over $10,000 🌈🌍.
Currently, Ethereum is priced at $3,353 according to CoinMarketCap, which means that a rise to $10,000 would represent a 198% increase, which is a huge development for its market cap 🚀📉.
The role of alternative currencies (Altcoins) 💡🪙
The analyst also noted that this expected rise in Ethereum could push altcoins into a similar bull run 🌊⚡. Ethereum has historically been a key player in kicking off the altcoin season, with smaller caps following strong bull runs in Bitcoin 🪙🏆.
Another prominent analyst, “MikyBull Crypto,” confirmed that the current altcoin season has already begun 🕺🔥. He predicts that the period between December 2024 and March 2025 will see strong market activity, with significant gains for a number of coins with small market caps 📆📊.
Finally 🎯✨
If Ethereum continues to replicate the “bullish magnifier” pattern, it could become the main catalyst for a new bullish cycle that will encompass the entire market 🌟🌍. With analysts optimistic about the upcoming altcoin season, the crypto market seems to be on the cusp of a new chapter of prosperity and growth 🌠💹.
