- Ethereum and Bitcoin continue their steady sideways movement.
- Analyst recognizes start of ETH bull run and sets $10,000 as mid-term target for ETH price.
- ETH breaks out of a massive triangle pattern on the weekly price chart.
Bitcoin’s breakout to the 6-digit ATH target set the crypto market ablaze. The present ATH of BTC stands at $103,900.47. This monumental breakout drew the attention of traders, investors, and financial institutes across the world. Analysts now predict higher highs to arrive in the coming months for Bitcoin as well as altcoins.
Indeed, Bitcoin’s latest ATH ignited bullish movement in multiple popular and highly potential altcoins. As BTC set its latest ATH, so did a few altcoins like SUI and ONDO that went on to set ATHs alongside the pioneer crypto asset. Expectations for legacy altcoins to hit new ATHs grow stronger as altseason’s arrival grows more profound.
Ethereum Breaks Out of a Massive Triangle Pattern
Presently, analysts are keeping a close eye on the pioneer altcoin asset Ethereum (ETH). The price of ETH recently broke through the $4,000 barrier before retracing to a sideways movement with ETH price dipping below $4,000. In the eyes of many analysts ETH price is primed to hit a minimum of $8,000 this bull cycle.
$ETH Massive Triangle Breakout on the Weekly Chart.. ✅
Ethereum 2024-25 bull run is Officially Started. 📈
Midterm Target: $10K!#Crypto #Ethereum #ETH #ETHUSDT pic.twitter.com/EdP2ONYySI
— Captain Faibik 🐺 (@CryptoFaibik) December 9, 2024
ETH Price Could Hit $10,000 as Mid-Term Target
However, expectations for a $10,000 ETH price seems to be gaining popularity amongst many seasoned analysts. As we can see from the post above, this analyst observes that ETH price chart seems to be breaking out of a massive triangle on the weekly chart. As we can see from the post above, the analyst believes that ETH bull run has started and set $10,000 as the mid term target for the altcoin.
