Etherum still has problems with this overcome resistance which has reached the level of $3,000, with the bears maintaining the price. Nevertheless, the bullish sentiment around Ethereum’s price has not completely diminished. This suggests that investors still expect the price to rebound from the current decline. Crypto analyst Master Ananda shares a more confident view on the cryptocurrency, predicting five-digit numbers will remain in the future.
Ethereum price will exceed $10,000
In analysis, Master Ananda explains that Ethereum’s story is not over yet. A cryptocurrency analyst noticed the appearance of trend-based Fibonacci extension numbers on the Ethereum price chart. They suggest that Ethereum’s price is preparing for another substantial rally.
Following this trend, the analyst believes that the price of the digital asset will reach a five-digit amount. However, even though $10,000 seems more elusive by the day, Master Ananda says it doesn’t look like the highest goal in Ethereum’s history. Instead, $10,000 is merely a “mid-portion” target, meaning it expects a higher price raise.
As opposed to the expected goal of $10,000 Ethereum is expected to take a hita cryptocurrency analyst predicts that the price will rise to as much as $20,000 at this time. Such a recovery would mean a more than 900% raise in Ethereum’s price and would likely trigger an altcoin season, as has happened in the past.
Looking at the chart, there are several major resistance levels where the bears could put up a fight. The first one is around $4,900, which is currently an all-time high. Then, going forward, there is resistance at $10,690. This is a natural resistance as $10,000 is expected to be the main psychological level.
At the tail end of this massive rally is a developing resistance that could send Ethereum price is falling again for $20,000. This is expected to be the peak before the cryptocurrency falls into another bear market again.
As for the time frame in which this could happen, the cryptocurrency analyst explains that investors won’t have to wait long for it to happen. “We don’t have to wait four years for this event to happen. It all starts now… Ethereum is heading towards its $20,000 target,” the post reads.
Featured image from Dall.E, chart from TradingView.com
