Ethereum forecast: Analyst points to $10 zone with megaphone pattern
- Ethereum Could Hit $10 Due to Technical Pattern
- Resistance at $5 is key to the breakout
- ETH maintains bullish structure on the weekly chart
Ethereum (ETH) continues to show signs of technical strength, with analysts pointing to a potential path to $10.000. According to cryptocurrency expert Jelle, a megaphone pattern identified on the weekly chart could sustain this upward movement.
$ ETH bullish megaphone.
Target in the $10k region.
Time for the new generation what a real ETH rally looks like.
The megaphone formation, characterized by increasing amplitudes between peaks and troughs, suggests that ETH may be preparing for explosive movements if it manages to break through critical resistance in the $5.000 region. This breakout, if confirmed, has the potential to trigger the liquidation of up to $5 billion in short positions, further fueling the advance.
On the other hand, if the cryptocurrency fails to overcome this level, there is a chance of a correction to the 12-week simple moving average, located near US$3.500, or to the lower support region of the pattern, around US$3.000 — a point that also coincides with the 25-week moving average.
Trader Merlijn also shared an optimistic view, but cautioned about the $5.100 level, which he considers a strategic zone. "It's the kind of level whales dream of," he said, suggesting that large players may be targeting this area as an ideal spot to capture liquidity from short orders.
THE SELL WALL ABOVE $ ETH IT'S TOO LOUD TO IGNORE ⚠️
$5,100 is stacked liquidity.
The kind of level whales dream about.They'll drive price straight into it, torch shorts, and reload.
That's how the game works.Play the hunter, not the hunted.
Merlijn reinforced the importance of liquidity as a catalyst and added: "Play like the hunter, not the hunted," indicating that the movement could be driven by the strategies of large investors.
At the time of publication, Ethereum is trading at $4.459, sustaining its technical structure within the megaphone pattern. If volume confirms the next steps, the asset could begin an optimistic trajectory with a target of five figures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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