After studying Ethereum statistics, the analyst promised ETH a 10-fold increase
The host of the YouTube channel Discover Crypto noticed signals that could lead to a 10x growth in Ethereum next year. In a new video, he analyzed the previous price movement of Ethereum, which allowed him to determine the approach of an uptrend.
According to the blogger, Ethereum has overcome long-term horizontal resistance and marked the beginning of the previous bullish cycle. Using the ETH/USD daily chart on TradingView, it showed that the horizontal resistance channel lasted approximately 1029 days. At the same time, the main altcoin quickly rose after the breakout.
The channel host revealed that 130 days after the breakthrough, Ethereum had grown more than fivefold. He compared Ethereum price behavior in 2020 with the current trend and highlighted important similarities that could lead to a similar result.
Taking into account historical patterns, the expert concluded that by approximately September 2024, ether will be trading at around $3,500.
