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Here’s why analysts think Ethereum’s $10,000 breakout is ‘programmed this cycle’

Ethereum ( ETH ) appears to be on the verge of a significant breakout, with its current market structure closely mirroring the 2020-2021 cycle. As similar patterns emerge, analysts suggest that Ethereum’s breakout to $10,000 is programmed for this cycle, signaling a potential turning point for the second-largest cryptocurrency by market capitalization. Ethereum’s market structure points to a breakout An analysis by TedPillows highlights Ethereum’s recent capitulation candle, which mirrors the sharp downturn seen in March 2020. At that time, ETH faced a major downturn, leading many to believe the asset’s bullish trajectory was over—only for it to rebound and enter a bull run. Ethereum price analysis chart. Source: TedPillows/X The one-week Ethereum price chart resembles a similar setup, with price action showing a strong rejection from the upper resistance trendline, similar to the 2020 structure. However, just as ETH recovered and initiated a long-term breakout post-2020, analysts believe the current cycle is set for a similar move, with $10,000 potentially in sight. “Ethereum recent capitulation candle reminds me of March 2020. A major dump, which resulted in long-term structure breakout for Ethereum. People thought $ETH was over, and then it started to bounce back. I guess we’re about to see history repeating itself. $10K ETH is programmed this cycle” — the analyst noted. More bullish projections Further supporting the bullish outlook, an analyst with the pseudonym MikybullCrypto has identified a TD Sequential buy signal on Ethereum’s chart, a widely watched technical indicator known for spotting trend reversals. https://twitter.com/MikybullCrypto/status/1888827244287541440 The signal suggests that ETH may be on the verge of a strong bounce, further strengthening the case for a shift in momentum. At the same time, an analysis by Titan of Crypto points to a striking resemblance between Ethereum’s current price action and Bitcoin’s ( BTC ) trajectory just before its explosive breakout in the previous bull run. As reported by Finbold, this historical parallel strengthens the case for Ethereum following a similar path, reinforcing optimism for a sustained move higher. Institutional investors bet big on Ethereum Institutional demand for Ethereum is also surging. According to CoinShares ’ report on February 10, Ethereum exchange-traded products (ETPs) absorbed $793 million in inflows over the past trading week, outpacing Bitcoin’s $407 million for the first time this year. The sharp increase in inflows, representing a 95% lead over Bitcoin, indicates that institutional investors are aggressively accumulating ETH, particularly following its recent dip near $2,100, a classic buy-on-weakness trend. Adding to the growing market interest, Eric Trump’s recent endorsement of Ethereum has fueled renewed speculation, particularly among retail investors. While such endorsements do not directly impact Ethereum’s fundamentals, they often contribute to short-term buying momentum, further supporting ETH’s recovery. What’s next for Ethereum? At press time, Ethereum is trading at $2,678.44, up 1.95% on the day. Ethereum one-day price chart. Source: Finbold With technical indicators aligning, institutional inflows accelerating, and historical patterns reinforcing a bullish outlook, Ethereum appears poised for a major breakout this cycle, potentially paving the way for new highs. Featured image via Shutterstock The post Here’s why analysts think Ethereum’s $10,000 breakout is ‘programmed this cycle’ appeared first on Finbold . CoinOtag

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Ethereum’s Role in Shaping Web3 Growth Through L2 Rollups and the Superchain

Ethereum continues to lead the blockchain revolution, driving crucial advancements in Web3 through its strong community, layer 2 rollups, and the rapidly expanding Superchain. The increasing collaboration among Ethereum’s developers CoinOtag