Ethereum (ETH) might be heading for a rally soon, with some crypto experts saying it could reach $10,000 in the coming months. This comes as signs point to a possible “altcoin season,” a time when smaller coins like Ethereum do better than Bitcoin. On June 26, crypto analyst Mikybull posted on X (formerly Twitter), saying that Ethereum has finished a phase called the “Wyckoff reaccumulation” test.
This pattern usually happens before a big rally. “Ethereum is done with ‘test’ on Wycoff reaccumulation schematic,” he wrote. He added, “Big rally incoming.” His chart pointed to a breakout around the $3,200 level, which he expects to happen soon.
Another well-known analyst, XForceGlobal, shared a similar outlook on his page. He said Ethereum’s recent move to $2,800 is “objectively bullish” and backed it with data. Using Elliott Wave analysis, he predicts that ETH could go as high as $9,400. “ETH is still looking to shoot for new ATHs this cycle and should end around $9,000–$10,000, give or take,” he said.
Other experts have also shared similar thoughts. They believe Ethereum could climb higher based on past market cycles, especially with new interest from large investors.
Moreover, this hype is not just about Ethereum. The return of the “AltSeason” is near, and many analysts are expecting it. This is a phase in the market where altcoins start to pick up a surge in their price. The Altcoin Season Index, a tool that tracks this trend, is now showing early signals.
Joao Wedson, the founder of Alphractal, also confirmed this on X, “The Altcoin Season Index is flashing signs of opportunity… Make sure you are prepared,” he said.
In addition, Bitcoin is leading the market with a 65.77% share. Its dominance has reached a monthly high. In the past, when Bitcoin’s dominance hit around 70% and then started to drop, altcoins usually started to rise fast. Mikybull believes we’re close to that point. He said, “A full-blown altseason probably begins from this point.”
Popular analyst Rekt Capital also compared this to the early years. He said that Bitcoin’s market share is just 5.5% away from hitting 71% for the first time since early 2021. That could be the trigger for the next rally. Another analyst, The Chart Degen, said on June 27, “Pick the right altcoins and make a disgusting amount of money over the coming months.”
At the time of writing, Ethereum is trading for $2,422 on Friday, June 27. The ETH price is consolidating sideways between $2,460 and $2,390. Surging to $9,000 or $10,000 as the analyst predicted is about a 293% to 339% surge from the current price, according to CoinMarketCap.
Also Read: How Will Bitcoin and Ethereum Price Move amid $17 Billion Options Expiry?
