- Ethereum is gaining momentum, with analysts predicting a surge past $15,000 this cycle.
- Strong technical patterns and the upcoming Pectra upgrade could fuel a massive breakout.
Ethereum’s bull run is heating up again after a brief cooldown. While ETH is still under $3,000, analysts believe it will explode past $15,000 in this cycle. Crypto Rover, a well-known strategist, says, “ETH will teleport over $15,000.”
Head and Shoulders Formation
CryptoGoos, a chart expert, has spotted a massive head and shoulders pattern on Ethereum’s weekly chart. If this trend plays out, ETH could surge to $6,000.
Copper Price Correlation
Some traders compare Ethereum to copper, just as Bitcoin is often linked to gold. If this correlation holds, ETH could see a major move above $5,000.
Symmetrical Triangle Breakout
Crypto Admiral and Crypto GEMs highlight a huge symmetrical triangle pattern on ETH’s chart. If ETH breaks above $3,200, it could quickly climb to $5,600 and beyond.
Catalysts Behind Ethereum’s Potential Rally
Ethereum’s surge isn’t just about chart patterns. Several key catalysts could push ETH into five-figure territory.
Historical Price Action
Mikybull Crypto notes that ETH’s current price movement is similar to early 2024, right before a major breakout. If history repeats, ETH could rally soon.
Double Bottom Formation
Chart analyst Ted has spotted a double bottom formation, a classic bullish reversal pattern. This signals strong upside potential for ETH.
Ethereum’s Current Market Position
At the time of writing, ETH trades around $2,690, down 1.38% on the day. Despite a 2.57% gain over the past week, ETH is still down 19% for the month. Its market cap stands at $324.63 billion, keeping Ethereum as the second-largest cryptocurrency.
Will Ethereum Hit $15,000?
Ethereum has strong technicals, bullish sentiment, and a major upgrade on the horizon. If these factors align, ETH’s path to $15,000 could become reality. The next few months w
