A recent report suggests that Ethereum’s (ETH) price is about to surge. tweet Crypto Patel is a well known cryptocurrency analyst. Patel identified patterns using Elliott Wave Analysis. It is possible that Ethereum will reach the $10,000 milestone in the future.
The Zigzag pattern of ETH pointing to the $3,250 target
Crypto Patel observed on the ETH/USDT 1D Chart at the Cycle Degree that wave (C)) appears to unfold. This is a pattern that indicates the potential for a price reversal. It usually occurs following a correction.
Patel, based on his analysis, has set a target price of $3.250 for Wave ((C). This suggests that Ethereum’s value may increase substantially in the next few weeks or even months.
Please read also: Shiba Inu May End Price Prediction: Can SHIB Reclaim $0.00003?
The Diagonal 4th Correction Wave Targets $3,050
Crypto Patel also found Wave 4 of a diagonal ascending pattern at primary degree on the ETH 1D Chart. This correction is still in motion and should reach $3,050 as its target.
The diagonal patterns can be associated with strong market trends, and indicate that the direction of the current market will continue after a short period of correction or consolidation.
Please read also: Top 3 Cryptocurrencies to Buy Now with NVIDIA’s Earnings Around the Corner
Supercycle Wave [[III]Aiming at $9,000-$10,000
Wave identification is perhaps the most fascinating aspect of Crypto’s Elliott Wave analysis. [[III]] of a diagonal ascending on the ETH 1D Chart at the Supercycle Degree.
This current wave has an estimated target of between $9,000 and $10,000. The achievement of this goal would mark a huge milestone for Ethereum. The cryptocurrency could reach a new high.
Please read also: Top 3 Trending Meme Coins To Buy Now For 3X Gains
Expert Predictions on Ethereum for May 2024
Crypto experts at Changelly Have provided their own Based on price changes of the cryptocurrency at the beginning 2024, we can make predictions about the price path for Ethereum. They expect that the average ETH price in May 2024 will be $3,161.75 with a price range between $3,112,20 and $3,211.30.
Although these predictions may be more conservative than Crypto patel’s longer-term goals, they suggest that Ethereum is still on the rise.
Please read also: Chainlink Market Cap Shot Up 14%: How High Can LINK Go This Weekend?
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru