Ethereum’s Path to $10,000 Milestone Hinges on Flipping This Level into Support

Ethereum continues to show strength above $2,700, with optimistic predictions suggesting a potential rally to $10,000 if the $4,000 resistance can be held as support. Analysts see promising signs in recent price action and MACD indicators, indicating a potential upward trajectory for the cryptocurrency by 2026, aligning patterns with Bitcoin’s performance in past cycles.

Ethereum is showing notable strength as it maintains a price above $2,700, leading crypto analysts to speculate its future trajectory. The cryptocurrency has outperformed others in recent weeks, including Bitcoin, which can only add to the excitement in the market. Some experts suggest that if the upward trend continues, Ethereum could reach a new all-time high before the current bull cycle wraps up.

While Ethereum has yet to reclaim its previous pinnacle, optimism abounds regarding a surge toward $10,000. The second-largest cryptocurrency is still performing impressively against other assets, raising hopeful sentiments among investors. A crypto analyst known as Venturefounder believes that an essential factor for ETH’s ascent lies in flipping the $4,000 resistance level into support.

Venturefounder’s analysis tracks Ethereum’s price action, revealing a significant rising channel that dates back to 2017, hinting at substantial upward movement. This bullish outlook is bolstered by a recent bullish crossover on the Moving Average Convergence Divergence (MACD) indicator, suggesting that momentum is building.

As we approach the end of May, experts are monitoring whether Ethereum can successfully close the month above $2,500. This closing price could set the stage for significant upward price movements. Additionally, if the MACD crossover completes by month’s end, Ethereum’s market could see even more positive action.

Combining a monthly close above $2,500 with the MACD’s bullish crossover, Ethereum is poised for a push towards the next significant target of $4,000. According to Venturefounder, establishing this level as support by Q4 could pave the way for ETH to soar to a remarkable $10,000 by 2026. On a more cautious note, should market conditions take a downturn, ETH might fluctuate between $1,400 and $4,000.

Looking ahead, Ethereum’s prospects for hitting a new all-time high appear more achievable. Crypto analyst Merlijn The Trader has weighed in on the scenario as well, forecasting a significant rise for ETH, paralleling similar movements observed in Bitcoin’s history.

By comparing Ethereum’s recent performance with Bitcoin, Merlijn theorizes that ETH often experiences sharp increases after retesting previous highs. Historical data shows that in the prior cycle, Ethereum jumped over 234% following such movements. With Bitcoin making progressive strides once more, Merlijn is optimistic that Ethereum will follow suit, possibly reaching well past the $14,000 mark by 2026.