- Altcoin ETH continues to respect its long-term macro fractal.
- ETH is looking at $10,000 – $16,000 as its next ATH targets.
- Analysts seem to be turning steadily more bullish on the asset.
The pioneer altcoin asset, Ethereum (ETH), has been trading between the $1,800 – $1,900 price range over the last few weeks showing steady momentum and an admirable strength after a continued fall in prices. At the moment, most ETH analysts are bullish as ETH continues to respect its long-term macro fractal. This points to a high possibility of ETH hitting new ATH targets between $10,000 – $16,000.
ETH Continues to Respect Its Long-Term Macro Fractal
Altcoin traders were the most disappointed over the last bull cycle as Bitcoin went on to hit several new ATH price targets only to leave altcoins far behind. As compared to previous bull cycles, the prices of altcoins barely surged during its bull phase, allowing only a handful of popular altcoins to hit new ATH prices. The pioneer altcoin asset, Ethereum (ETH), was not among them.
This bear cycle, one reputed crypto analyst made a bold claim, which is that the price of ETH would go on to outperform the price of BTC over the coming cycle. He even went on to declare that his portfolio for the coming bull cycle would hold 60% of ETH as opposed to the previous 40% ETH holdings. Already, the analyst has begun to accumulate to position himself for what he believes to be a bullish cycle for ETH in particular.
As we can see from the post above, another popular crypto analyst adds to the conversation with a similar viewpoint. In his opinion, ETH continues to respect its long-term macro fractal, closely following the structure seen in previous market cycles. He goes on to state that so far, the Ethereum fractal has never failed, meaning that the next stop for the asset includes bullish ATH targets between $10,000 – $16,000.
Looks at $10,000 – $16,000 as Next ETH ATH Targets
The post goes on to explain the technical structure where it highlights how every major ETH cycle has completed over a 4-Year Expansion phase following Bitcoin halving. The recent correction successfully held the historical accumulation zone around the previous breakout level, as Wave 4 appears complete after defending strong macro support. The price is now reclaiming higher levels, suggesting Wave 5 may already be in progress.
Key levels to watch include a strong support between the $1,500 – 1,000 price range alongside the major resistance line at the $4,000 price range and the macro fractal target between the $10,000 – $16,000 price range. The post concludes with a market outlook that states that as long as ETH holds above the macro support zone and continues forming HHs and HLs, the HTF bullish structure remains intact. A decisive breakout above the previous cycle resistance could trigger the final impulsive Wave 5 expansion, similar to previous bull market cycles.
