Ethereum Price Prediction: $10000 Rise Possible as Experts See Bullish Trend

After analyzing recent market indicators, many experts believe that Ethereum's price could reach $10,000 some time next month. However, others warned that the "ascending triangle" technical pattern could be an ETH price trap.

Ethereum suffered a disastrous trade in these last couple of days, dropping from its $3,185.31 value on February 16 to $2,571.17 on Tuesday. According to Coin Desk, Ethereum traded with a 2.2 percent loss in the last 24 hours.

The numbers can be discouraging to traders, but some analysts saw a bullish opportunity hidden in the market trend. These analysts warned that there could be an ETH uptrend coming very soon!

Ethereum Price Prediction: $10000 in 2022

Cointelegraph sources explained the bullish signs from the "ascending triangle" technical pattern on Ethereum markets. In a quick summary, they said that Ethereum is preparing for a decisive breakout that could reach up to $10,000 value.

Analysts said that "price rises upward inside a rising right-angle triangle structure, thus forming a sequence of lower highs on the lower trendline with resistance in place at the upper one." Note that the triangle's accumulation range started as early as 2021.

To emphasize, experts said that if Ethereum follows the triangle, it can reach the target of $10,000. However, there are also indicators that it could reach $4,000 instead.

Wolf, an independent market analyst on Twitter, also supported this prediction. The analyst shared a photo of Ethereum markets with an inverse head-and-shoulders pattern predicting the same bullish trade.

Unfortunately for traders, both analysts failed to elaborate a timeframe for this Ethereum price trend. For now, traders are recommended to monitor ETH's values for any indication on the start of the trend.

Ethereum Price Warning: A Bullish Trap

It should be emphasized that not all analysts believe in the Ethereum price prediction. One analyst, TheTreeTrader, argued that the Ethereum market is a bull trap.

In a post on TradingView, TheTreeTrader said, "ETH might wanna stay bearish for now." The trader highlighted the downward sloping trendline that started in November 2021 and predicted that ETH might drop to $2,300 value very soon.

ETH Value Is on the Rise

Regardless of the current ETH price, Cointelegraph emphasized that Ethereum's network is rapidly expanding. This development proves that many traders are actively participating in the market, which could contribute to its growth.

According to reports, Ethereum has attracted more than 18.36 million new addresses on its network in 2021 at an average pace of 1.53 million per month!

It is also worth pointing out that the number of Ethereum addresses holding at least 1 ETH has reached more than 1.42 million earlier this month. Considering all of this, it might be possible for Ethereum to beat the odds and spike in the market soon.

But note that since most of these price predictions are given by different analysts, readers are advised to take this information with a pinch of salt.