Ethereum Poised for Major Breakout, Analyst Predicts $10,000 Target

Ethereum (ETH) has made a notable recovery, surging over 12% since it dropped to $2,460 on February 3, following the broader downturn in the cryptocurrency market.

While many altcoins continue to struggle with substantial gains, ETH has managed to defy the odds, earning attention for its positive outlook.

One analyst is particularly optimistic, predicting that Ethereum could experience a significant breakout, potentially reaching $10,000 in this market cycle.

Looking at the data, some signs suggest that Ethereum might be on the verge of setting new all-time highs. In a recent post, analyst Ted Pillows drew comparisons between ETH’s current price movements and Bitcoin’s trajectory during the previous bull run.

He noted that Bitcoin’s 2015-2017 bull cycle followed a similar pattern, where it bottomed out near $200-$205, only to rally sharply to $780, marking a new record. Pillows believes that Ethereum is now following a similar path, having completed its accumulation phase and recently breaking through key resistance levels.

Despite some volatility, particularly during broader market pullbacks, Ether’s price appears to be setting the stage for a potential rally ahead.