Ethereum

bullish

Momentum

<p>Market analyst CryptoYoddha believes Ethereum price is heading for a bullish trajectory, capable of reaching $10,000 in the coming cycles.</p> 
<p>Looking at historical patterns, Ethereum’s price structure indicates a phase of accumulation and breakout. Furthermore, these insights are in line with Ethereum’s previous market cycles and thereby build more confidence to surge upwards in the long term.</p> 
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   ETH/USDT|source Tradingview
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<p>Ethereum’s price movement is starting to resemble the “W-X-Y” accumulations and breakouts of its earlier cycles (2018-2020 and 2021-2023). In terms of these cycles, Ethereum initially declined (marked “X”), consolidated (as marked as “Y”), and then rallied very high.</p> 
<p>As per the CryptoYoddha chart, Ethereum now seems to be at a similar breakout point. That could be a move toward $10,000 with intermediate resistance, where $5,000-$6,000 acts as checkpoints.</p> 
<p><a href="https://www.thecoinrepublic.com/2024/11/13/ethereum-wedge-pattern-can-breakout-push-price-to-5450/">Ethereum</a> price recently confirmed $2,400–$2,500 as a major accumulation zone, and a similar consolidation caused these before major rallies. Its current price of $3,419 places it near the next breakout phase, which further supports the optimistic outlook.</p> 
<h2 class="wp-block-heading" id="h-technical-indicators-strengthen-ethereum-s-bullish-case"><strong>Technical Indicators Strengthen Ethereum’s Bullish Case</strong></h2> 
<p>Ethereum price looked bullish, with higher lows holding onto its ascending trendline in the long term. This trendline has fuelled Ethereum’s previous major rallies, making CryptoYoddha’s bullish projection more confident.</p> 
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   Source: X
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<p>Volatility poses some short-term resistance, but the wider technical perspective is that momentum should continue. Having these factors in mind, CryptoYoddha thinks Ethereum price has the potential to surpass $10,000 and should, therefore, not be underestimated in the coming months.</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-daily-chart-golden-cross-confirms-bullish-momentum"><strong>Ethereum Price Daily Chart Golden Cross Confirms Bullish Momentum</strong></h2> 
<p>On the daily chart of Ethereum, we saw strong bullish momentum and a Golden Cross that also acted as a strong confirmation for the uptrend.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="561" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-1024x561.png" alt="" class="wp-image-848124" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-1024x561.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-300x164.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-768x421.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-150x82.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-696x381.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629-1068x585.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-629.png 1341w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   1-day ETH tradingchart|source Tradingview
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<p>This technical indicator is identified when the 13-day moving average (MA) crosses over the 49-day MA, indicating the potential for sustained price gains. This signal’s presence strengthened Ethereum’s breakout above its consolidation phase and confirmed onward growth.</p> 
<p>Ethereum price broke above $3,000, strongly marked by bullish candles, and is currently trading at $3,414.43 with a daily gain of 2.25%. So, if the momentum persists it can retest $3,500-$3,600.</p> 
<p>A positive capital inflow was signified by a Chaikin Money Flow (CMF) reading of 0.20, which showed strong investor interest. In order to keep sustaining this momentum and getting to even higher resistance zones, Ethereum price needs to keep attracting more of these inflows.</p> 
<h2 class="wp-block-heading" id="h-etf-inflows-signal-renewed-institutional-interest-in-ethereum"><strong>ETF Inflows Signal Renewed Institutional Interest in Ethereum</strong></h2> 
<p>Renewed institutional interest in the cryptocurrency is reflected in the traction of Ethereum ETFs. The inflows for Ethereum ETFs last week increased by $515 million from $154 million reported for the prior week.</p> 
<p>It marked the strongest weekly inflows since their launch in the US in July. Ethereum ETFs’ total net assets have risen from $6.94 billion to $9.15 billion over the past two weeks.</p> 
<p>However, there are still challenges, with the Grayscale Ethereum Trust seeing outflows of $178 million, which is holding back overall sentiment. Despite that, the Ethereum ETF interest is growing, which indicates a possible increased mainstream adoption.</p> 
<p>Ethereum price looks set to achieve large gains with its historical patterns and technical structure marking its next major market cycle.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/23/can-ethereum-price-break-10k-bullish-momentum-suggests-potential/">Can Ethereum Price Break $10K? Bullish Momentum Suggests Potential&nbsp;</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Can Ethereum Price Break $10K? Bullish Momentum Suggests Potential

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