{"id":654599,"date":"2024-11-24T05:30:09","date_gmt":"2024-11-24T05:30:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=654599"},"modified":"2024-11-23T14:33:28","modified_gmt":"2024-11-23T14:33:28","slug":"ethereum-price-repeats-bullish-megaphone-pattern-from-2017-why-10000-is-possible","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-repeats-bullish-megaphone-pattern-from-2017-why-10000-is-possible\/","title":{"rendered":"Ethereum Price Repeats ‘Bullish Megaphone’ Pattern From 2017 – Why $10,000 Is Possible"},"content":{"rendered":"

The Ethereum price<\/span><\/a> has formed a key technical pattern reminiscent of the one observed in 2017 when the cryptocurrency embarked on a major bull rally. According to a crypto analyst, this pattern, known as the \u2018Bullish Megaphone\u2018, could signal a possible price rise to $10,000 for ETH.\u00a0<\/span><\/p>\n

Related Reading: Chinese Court Declares Personal Crypto Ownership Legal In Mainland China<\/a><\/div>\n

Bullish Megaphone Sets Stage For Ethereum Price Rise To $10,000<\/b><\/h2>\n

A Blockchain and crypto technical analyst, identified as \u2018EtherNasyonal,\u2019 on X (formerly Twitter), has<\/span> predicted<\/span><\/a> that the Ethereum price could soon surpass $10,000. According to the analyst, <\/span>Ethereum\u2018s price action<\/span><\/a> currently showcases a historical chart pattern, the Bullish Megaphone, observed during the 2016 to 2017 bull market.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

The <\/span>Bullish Megaphone pattern<\/span><\/a> is a technical indicator consisting of two higher highs and two lower lows, often indicating a <\/span>potential uptrend<\/span><\/a> continuation for a cryptocurrency. This technical pattern is considered bullish when a cryptocurrency’s price breaks above the trend line with increasing volume.<\/span><\/p>\n

Looking at the analyst\u2019s <\/span>Ethereum price chart<\/span><\/a> from 2016 to 2017 and another for 2024 to 2025, the Bullish megaphone pattern has formed in both bull cycles. Moreover, at the end of the key technical pattern in 2017, the Ethereum price skyrocketed to new price levels, surpassing the $1,200 mark by 2018.\u00a0<\/span><\/p>\n

EtherNasyonal has suggested that as Ethereum repeats this pattern in the current bull market, it could signal a similar massive price surge, with a potential rally above $10,000. As of writing, CoinMarketCap reveals that the <\/span>price of Ethereum<\/span><\/a> is trading at $3,353, marking a 7.24% surge in the last seven days. At its current price, a <\/span>rally to the $10,000 mark<\/span><\/a> would represent a 198% increase for Ethereum, highlighting a substantial surge in value.<\/span><\/p>\n

ETH is currently trading at $3,351. Chart: TradingView<\/a><\/figcaption><\/figure>\n

The analyst has also noted that altcoins will likely follow Ethereum\u2019s bullish momentum and experience a similar uptrend. This price rally in ETH could further impact the future <\/span>trajectory of altcoins <\/span><\/a>in the crypto market this bullish cycle.\u00a0<\/span><\/p>\n

Is The Altcoin Season Here?<\/b>\u00a0<\/span><\/h2>\n

Historically, Ethereum has been a significant catalyst or determining factor to the start of the highly anticipated <\/span>altcoin season<\/span><\/a>. While <\/span>Bitcoin\u2019s dominance<\/span><\/a> tends to decline significantly around this period after experiencing a remarkable bull run, altcoins typically follow this bullish trajectory, with Ethereum taking the lead as it <\/span>trails behind Bitcoin\u2019s price rally<\/span><\/a>.<\/span><\/p>\n

MikyBull Crypto, a prominent analyst on X,<\/span> declared<\/span><\/a> that the altcoin season for this <\/span>current bull cycle<\/span><\/a> has officially begun. For clarity, the altcoin season is after Bitcoin\u2019s consolidation phase, which follows a rally, where smaller-cap cryptocurrencies begin a strong market rally.<\/span><\/p>\n

\"\"<\/p>\n

Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000?<\/a><\/div>\n

MikyBull Crypto has optimistically revealed that from late December 2024 to March 2025, investors and the broader crypto market may witness \u201cthe real fun\u201d of the altcoin season. This suggests that the altcoin market is expected to embark on a significant rally, with numerous small-cap cryptocurrencies experiencing varying price increases.<\/span><\/p>\n

Feaatured image from The Guardian, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethereum price has formed a key technical pattern reminiscent of the one observed in 2017 when the cryptocurrency embarked on a major bull rally. According to a crypto analyst, this pattern, known as the \u2018Bullish Megaphone\u2018, could signal a possible price rise to $10,000 for ETH.\u00a0 Related Reading: Chinese Court Declares Personal Crypto Ownership Legal In Mainland China Bullish Megaphone Sets Stage For Ethereum Price Rise To $10,000 A Blockchain and crypto technical analyst, identified as \u2018EtherNasyonal,\u2019 on X (formerly Twitter), has predicted that the Ethereum price could soon surpass $10,000. According to the analyst, Ethereum\u2018s price action currently showcases a historical chart pattern, the Bullish Megaphone, observed during the 2016 to 2017 bull market.\u00a0 The Bullish Megaphone pattern is a technical indicator consisting of two higher highs and two lower lows, often indicating a potential uptrend continuation for a cryptocurrency. This technical pattern is considered bullish when a cryptocurrency’s price breaks above the trend line with increasing volume. Looking at the analyst\u2019s Ethereum price chart from 2016 to 2017 and another for 2024 to 2025, the Bullish megaphone pattern has formed in both bull cycles. Moreover, at the end of the key technical pattern in 2017, the Ethereum price skyrocketed to new price levels, surpassing the $1,200 mark by 2018.\u00a0 EtherNasyonal has suggested that as Ethereum repeats this pattern in the current bull market, it could signal a similar massive price surge, with a potential rally above $10,000. As of writing, CoinMarketCap reveals that the price of Ethereum is trading at $3,353, marking a 7.24% surge in the last seven days. At its current price, a rally to the $10,000 mark would represent a 198% increase for Ethereum, highlighting a substantial surge in value. The analyst has also noted that altcoins will likely follow Ethereum\u2019s bullish momentum and experience a similar uptrend. This price rally in ETH could further impact the future trajectory of altcoins in the crypto market this bullish cycle.\u00a0 Is The Altcoin Season Here?\u00a0 Historically, Ethereum has been a significant catalyst or determining factor to the start of the highly anticipated altcoin season. While Bitcoin\u2019s dominance tends to decline significantly around this period after experiencing a remarkable bull run, altcoins typically follow this bullish trajectory, with Ethereum taking the lead as it trails behind Bitcoin\u2019s price rally. MikyBull Crypto, a prominent analyst on X, declared that the altcoin season for this current bull cycle has officially begun. For clarity, the altcoin season is after Bitcoin\u2019s consolidation phase, which follows a rally, where smaller-cap cryptocurrencies begin a strong market rally. Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000? MikyBull Crypto has optimistically revealed that from late December 2024 to March 2025, investors and the broader crypto market may witness \u201cthe real fun\u201d of the altcoin season. This suggests that the altcoin market is expected to embark on a significant rally, with numerous small-cap cryptocurrencies experiencing varying price increases. Feaatured image from The Guardian, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":654604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[142,6664,8323,1946,8686],"class_list":["post-654599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoins","tag-crypto","tag-eth","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\nEthereum Price Repeats Bullish 'Megaphone' Pattern From 2017 - Why $10,000 Is Possible<\/title>\n<meta name=\"description\" content=\"The Ethereum price has formed a key technical pattern reminiscent of the one observed in 2017 when the cryptocurrency embarked on a major bull rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-repeats-bullish-megaphone-pattern-from-2017-why-10000-is-possible\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Repeats Bullish 'Megaphone' Pattern From 2017 - 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