In a bold and daring prediction, a crypto analyst known as ‘Yoddha’ has set a timeline for when Ethereum, the world’s second-largest cryptocurrency, will embark on a significant rally to new all-time highs above $10,000. According to Yoddha, Ethereum is expected to see a massive surge after a period of accumulation and decline, ultimately reaching above $10,000 by the end of the year. This prediction is based on historical trends exhibited by Ethereum from 2016 to 2024, as outlined in a chart shared by the analyst.
Yoddha identified a period of accumulation for Ethereum from 2019 to 2021, marked by various price fluctuations including long declines and short rallies. This accumulation phase was followed by a significant surge, leading to a peak of $4,867 towards the end of 2021, aligning with the cryptocurrency’s previous all-time high of $4,878. The analyst then pointed out a similar accumulation phase in Ethereum’s current market cycle from 2022 to early 2024.
Despite facing a bearish trend in 2022 and 2023, Ethereum managed to reach a record high of $4,088 on March 12, 2024, after experiencing declines in 2024. Yoddha believes that Ethereum has now concluded this accumulation and bearish period and is poised for a massive rally towards $15,346 by the end of 2024. Additionally, the analyst has hinted at Ethereum potentially starting the upcoming altcoins season and emphasized the launch of the highly anticipated altcoins season in 2024.
As of now, Ethereum is trading at $3,024, reflecting a 1.58% decline over the past month. Achieving a surge above $10,000 would require the cryptocurrency to jump by more than $7,000, driven by increased investor demand, interest in the cryptocurrency, and the potential introduction of an Ethereum Spot ETF in 2024. Notably, crypto analyst Ali Martinez has pointed out that Ethereum’s TD Sequential is showing a “buy signal” on ETH’s daily price chart, indicating a potential rebound from its recent price drop.
The future of Ethereum is filled with promise and potential, according to the bold predictions made by crypto analyst Yoddha. With historical trends as a guide, Ethereum’s path towards new all-time highs above $10,000 and potentially even reaching $15,346 by the end of 2024 seems within reach. Investors and enthusiasts will be closely watching Ethereum’s price movements in the coming months to see if these predictions come to fruition.