Ethereum Megaphone Pattern Fit Push ETH Reach $10K
Ethereum technical analysis show say one megaphone (broadening) pattern dey form for the weekly chart, wey mean say e get chance to go up well-well for many years. If e fit break through the important $5,000 resistance, e fit ginger rally reach $10,000, especially if short-position wey worth $5 billion dem go liquidate. But if e no fit pass $5,000, e fit make price test support again for around $3,500 (12-week SMA) or $3,000 (25-week SMA). Big whales dey watch $5,100 sell wall to catch liquidity from short positions wey many people leverage too much. Analysts talk say Ethereum don comot from 4.5 year institutional accumulation range, show say old cycle don end and new expansion don start. Even though mid-term correction fit happen and Bitcoin still get correlation, if price close pass 2021 peak $4,880, e go confirm say market sweet. Traders suppose dey check volume and BTC–ETH level to get better confirmation.
Bullish
Dis report dey shine light on wan broad or megaphone pattern for Ethereum weekly chart, wey historically dey come before big rallies once breakout happen. The forecast for rally go reach $10,000, wey dem back up with potential liquidation of about $5 billion for short positions wey dey the $5,000–$5,100 zone, e show say bullish momentum strong. Whale accumulation for key resistance levels, plus Ethereum breakout from long-time accumulation range, fit compare with earlier cycles wey institutional buying take lead long uptrends. Even tho short-term wahala and mid-cycle corrections—like Bitcoin 2023 drop to $25,000—still possible, if e fit hold above critical levels (especially 2021 high of $4,880), e go confirm say strength dey continue. The high correlation wey long persist between ETH and BTC mean say any positive move for Bitcoin go further ginger Ethereum advance. Overall, di joining of technical bullish signals, liquidity waka and past pattern performance dey point to bullish market outlook for quick trading chances and longer-term expansion phase.