What happened?
Ethereum has already surpassed its previous all-time high, and its price prediction of $10,000 is quickly becoming a possibility as the altcoin season intensifies. This rally was sparked by the Pectra upgrade, and momentum continues to grow. According to top analysts like Ted Pillows, who is followed by over 200,000 crypto traders, there are new technical setups that could further increase Ethereum’s value in the coming weeks.
Who does this affect?
This situation impacts Ethereum holders, crypto traders, and potential investors. If Ethereum’s price reaches $10,000, those who have invested or are planning to invest will see significant returns. Moreover, the current market dip has led to Ethereum-linked ETFs attracting nearly $560 million in net inflows, indicating that savvy investors are accumulating assets in anticipation of the next breakout.
Why does this matter?
The market impact is considerable as a rise in Ethereum’s value could potentially shape the future of the cryptocurrency market. A surge towards the much-anticipated $10,000 target later this cycle could stimulate the overall crypto economy. Additionally, with altcoin season now underway and macro catalysts like the Fed’s rate cut supporting risk assets, Ethereum’s value could trigger a broader bullish market structure.