Ethereum price enters price discovery, eyes $18,000
Over the weekend, the Ethereum price broke above $4,900 to set a new all-time high after four years of consolidation. This ATH breakout has ignited volatility, with traders taking profits and new buyers stepping in. Analysts at TheSignalyst note that Ethereum price cycles often rhyme: after long consolidations and a fresh ATH, the altcoin has historically rallied by over 250%. Applying that pattern to today’s $4,900 level points to a potential $17,000–$18,000 target.
Even a more conservative 100% rise would push Ethereum price toward $10,000. Key drivers include strong ecosystem demand, looming ETF prospects, and Powell’s dovish tone fueling risk-on trades. On-chain data shows whales rotating funds from BTC to ETH, amplifying momentum. Historically, November has produced the most significant moves for Ethereum, making the next quarter critical for traders watching price discovery and the potential onset of altcoin season.
Bullish
The breakout above $4,900 and fresh all-time high confirm that Ethereum price has entered a new price discovery phase. Historically, similar ATH breakouts preceded rapid rallies—250% gains in the 2021 cycle drove ETH from $1,400 to $4,800. Applying this percentage to today’s levels points toward an $18,000 target. Even a conservative 100% move would imply a $10,000 milestone.
Fundamental catalysts strengthen the bullish case. A dovish Fed stance and growing ETF prospects are rekindling risk-on sentiment. On-chain metrics reveal whales divesting BTC to accumulate ETH, underpinning momentum. In the short term, expect elevated volatility as traders book profits at key thresholds. Over the long run, sustained demand, network upgrades, and potential altcoin season—triggered by Ethereum outperformance—could drive broader market gains. This scenario mirrors past bull cycles, reinforcing a bullish outlook for ETH.