Ethereum currently trades above $3,000, the price of ETH would need 3x before it hits $10,000. It’s going to happen in the coming 24 months – ETH will move to our long standing target of $10,000.
See Related: 2024 Is A Hidden Crypto Bull Market
It’s important to understand that our ETH to $10,000 forecast is based on charting analysis and not minor news, that is often irrelevant to price increases. Such news is usually helpful when taken into account with other information to provide a more accurate context/backdrop.
We use charts to back up all statements, separating us from typical crypto media and online headlines.
- Making accurate forecasts on the price of ETH
- Ethereum’s ‘buy the rumor, sell the news’ moment
- Ethereum charts to the rescue
- ETH daily price chart
- A similar but very different ETH daily chart
- Weekly ETH chart confirms $10,000 target
- ETH to $10,000 – chart conclusion
- The price of ETH in 2024
- Ethereum price of $10,000 still stands
Welcome in the magic world of price forecasting. We will guide you in how we think about our Ethereum price prediction, particularly how we get to an answer to the when can ETH go to $10,000 question.
Making accurate forecasts on the price of ETH
Time and time again, it has been proven that fundamental news information is not correlated to short or even medium-term price increases in the Web3 space. It does not matter how many partnerships a network signs or what upgrades have taken place – the token will rise or fall along with the wider market.
Such information is useful mainly in terms of project longevity – it’s less likely to go out of business with strong fundamentals. It’s relevant primarily when taken in a much broader context of charting analysis and the wider crypto economy. However, many “analysts” will use standalone fundamental news to make unsubstantiated claims about the price of ETH. A classic example would be Ethereum’s Merge, which did next to nothing regarding its price:
ETH to $10,000 after the Merge? Discounted cash flow models are estimating this.
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— Ross Booth (@therossbooth) March 31, 2022
Ethereum’s ‘buy the rumor, sell the news’ moment
The price of ETH actually dropped after the Merge. While the upgrade was undoubtedly an excellent technical advance for Ethereum‘s ecosystem, this will only have a long-term price effect. But the financial trading markets, driven by those looking to make huge returns in a short space of time, are often not concerned with long-term rewards.
It’s quite simple. Just like in other markets, fundamental news is great for long-term investors who can wait for longer time horizons (2 – 5 years). Executing a trade based on fundamental news and expecting price increases in the near term makes little sense. And regarding Ethereum, we already know it has rock-solid fundamentals, as the home of DeFi. The skill lies in knowing if the fundamentals are already priced into the token.
Ethereum charts to the rescue
While fundamental information is useful to a degree, it’s the charts that really help when dealing with accurate price predictions. Fundamental news information can also be useful because it indicates where people will be misled. For instance, with all eyes on BTC spot approval pushing up the price of BTC, we knew it was practically exhausted, and placed our attention on ETH.
Stated differently, fundamentals alone will not help in understanding whether ETH can go to $10,000. Moreover, the question WHEN can ETH go to $10,000 cannot be answered without decent chart analysis.
We have 3 ETH charts that paint a clear picture, and tell a great story.
ETH daily price chart
First, the daily ETH chart which exhibits retracement levels. These retracement levels, represented by different colors on our chart, are important because they create one logic structure. The structure we are talking about is the the big drop (correction) since ETH hit its ATH.
The point with this retracement analysis is that it helps you understand when the long consolidation, otherwise boring, is entering a bullish period.
As seen below, in this long and boring consolidation, price is moving above the critical 50% retracement level. This is critical. Why? Because readings above the 50% retracement level are turning the consolidation into a bullish setup (more confirmation is needed before getting very bullish but it’s getting potentially very interesting for investors).
A similar but very different ETH daily chart
Now here is some magic that comes from our top charting team. We take the exact same chart, switch from a horizontal chart view (retracement levels) to a chart pattern view. Suddenly, the colored chart above turns into a dynamic chart exhibiting trends, see below.
This view of the ETH chart looks extremely promising, to say the least. Suddenly, the $10,000 price forecast for ETH is not such a crazy idea, on the contrary. What clearly stands out from the chart shown below is that $3,525.50 plays a pivotal role in Ethereum’s price evolution. That’s because $3,525.50 is a pivotal price point on ETH’s chart: once above this level, an accelerated uptrend should start. Stated differently, below $3,525.50 the uptrend will be rather soft. In that case, we should not expect those big rallies we have seen in 2017 or 2020.
Weekly ETH chart confirms $10,000 target
As an investor it is important to take a top-down view. In practical terms, it means that we always should check both the weekly and the daily charts, always. This certainly applies when forecasting the price of a token.
If we want to know whether ETH can go to $10,000, we must check daily and weekly timeframes.
While the daily charts, above, painted a very bullish picture, we must seek confirmation on the longer timeframe.
Luckily, the weekly chart indicates a bullish pattern: a rounded reversal. That’s a bullish pattern provided key support levels hold.
What may sound counter-intuitive, especially to the ‘instant pump’ crowd, is that this consolidation needs to continue for a lot longer before getting strongly bullish.
What we are saying is that serious ETH investors would hope for the following to occur:
- Support levels to hold (think 2022 and 2023 lows).
- The rounded pattern to further mature below $3,525.50 in 2024.
- In doing so, create a W-structure.
This, ultimately, would make for the perfect setup on this weekly ETH chart to move to our forecasted $10,000 ETH target in 2025. In other words, the longer the consolidation, the better, as the result on the weekly timeframe would result in a stronger bullish reversal.
ETH to $10,000 – chart conclusion
The good news from our charting analysis team is that the acceleration of the uptrend will start around $3525. We expect this to occur in 2025. When it does, it’s a more reasonable 3x increase to $10,000.
The weekly view also confirms a price rise acceleration to $10,000 in 2025 is perfectly possible, consistent with the daily chart.
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The price of ETH in 2024
This year, the price of ETH could hit between $3,000 – $4,000, with $3,000 the more realistic estimate. Despite a current freefall in the markets and the rising popularity of Solana-based coins, we’re still very bullish on Ethereum throughout the course of the year. We accurately predicted the current Bitcoin price fall after the overhyped Bitcoin ETF approval and significant bullish momentum.
We can stick with our estimate that Bitcoin, and Ethereum, could hit all-time highs in 2024. The market is simply clearing house of those who bought at the high and will now sell at the low. There are many discounted coins available at the present time.
Our premium charting service can instantly reveal which ones offer the best ROI. We called many winners in 2023 such as Fetch.ai, Ocean, Render Token, Stargate Finance, Metis Dao, and more.
Ethereum price of $10,000 still stands
In sum, the price of Ethereum could easily rise to $10,000. This will most likely occur in 2025. The level to reach is $3,525. Throughout 2024, the price of ETH will likely move to $3,000 – $4,000. First, we have to get out of the current bear cycle, consolidate, and push upwards.
The only point of concern would be a black swan event that pushed ETH below $1,300, in which case estimates would need to be revised. But this is a low-probability event.
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Disclaimer: This is not financial advice. Please consult with a financial advisor prior to making any investments.