Ethereum Set for Takeoff: Analyst Suggests Buying Below $4K Before It Hits $10K
Ethereum (ETH), an open-source software and decentralized blockchain with smart contract functionality, is on the verge of breaking above $4,000, having surged by about 2.49% in the past 24 hours, which saw it establish a maximum and minimum price, respectively at $ 3,916.86 and $ 3,799.35, according to its market readings on Coincodex.
While the coin is changing hands at about $3,916, a renowned market analyst with the username “@thescalpingpro” on X has urged his over 76.9K followers to accumulate ETH now, as this might be the last time to procure the coin below $4,000.
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Interestingly, the market analyst attached a price chart to his post on X, which projected Ethereum’s potential ascent to the $10,000 level. At the time of reporting, the post on X had accumulated about 30K views in under 3 hours, underscoring the market analyst’s influence in evaluating and predicting digital assets’ price direction.
Last chance to buy eth below $4k pic.twitter.com/1HVCLyIhi6
— Mags (@thescalpingpro) May 27, 2024
Altcoin Season Is Finally Here
Corroborating the above assertion, Max, the founder and Chief Executive Officer (CEO) at “BecauseBitcoin,” had taken to his official X account to announce the presence of the crypto market altcoins season to his over 42.6K followers. “It’s time to officially usher in alt-season. You have all been patient, but the wait is over. Let’s take a look,” the CEO tweeted.
Max’s claims cited historical trends depicting Ethereum’s propensity to outperform Bitcoin, following each price breakthrough orchestrated by the flagship crypto asset.
No Reason To Hold BTC, As Past Price Trends Depict ETH’s Dominance
According to Max, Ethereum outshined Bitcoin by 11% and 4% in the 2017 and 2021 bull seasons, respectively. “Based on historical trends, I do not see a reason to hold BTC here; I am talking about trading right now, not the obvious fundamental reasons,” the CEO added.
In addition, Max noted that Ethereum’s recent run does not just stem from the recent spot Exchange Traded Fund (ETF) approval. The market analyst stated that ETH has been impressive, signifying a remarkable price appreciation potential for other altcoins.
It’s time to officially usher in alt-season. You’ve all been patient, but the wait is over. Let’s take a look!$BTC & $ETH are doing more or less what they have always done; #Bitcoin chops under the previous cycle ATH & once it finally breaks through we see a year of #Ethereum… pic.twitter.com/sLCbCed0b1
— Max (@MaxBecauseBTC) May 27, 2024
Ethereum At $10K – Changelly’s And Telegaon’s Insight
Changelly and Telegaon are crypto assets analytical and price prediction platforms with extensive application in the crypto space, especially in guiding traders on investment choices and decisions.
Changelly predicted that ETH would hit price levels around $10,283.97 as a maximum price in 2026, adding that the coin would stabilize above $10,000 in 2027, about three years from now.
Unlike Changelly, Telegaon forecasted a further timeline for ETH to hit price levels above $10,000. Per the digital assets analytical firm, Ethereum will strike an average $10,035.72 selling price in 2028 and stabilize around the price mark in 2029.
While the insights from the two digital seets analytical platforms highlighted in this write-up indicated that Ethereum at $10,000 is not happening anytime soon, readers should note that the platforms’ predictions and analyses were based on prevailing conditions and other possible anticipated future occurrences.
Ethereum Price Prediction: ETH to Reach $5000 According Analysts#ethereum https://t.co/Ct6teVJn21
— Crypto2Community (@Crypto2Comm) May 24, 2024
The crypto space remains highly unpredictable, with the gross tendency to swing in any direction as events dictate. Hence, keeping an open mind with a strong disposition about Ethereum’s propensity to appreciate remarkably will help investors remain calm and astute in their investment decisions.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Chinedu Agbakwusi
Chinedu Agbakwusi is a news writer and editor for Crypto2Community. He is a crypto enthusiast with vast experience across several crypto-related projects and platforms. Chinedu has been following the development of the crypto market for several years, and he is optimistic about its potential to democratise the global financial system. He hopes to be a reliable plug for reporting trends and breaking down complex concepts to his readers. Agbakwusi's previously written for several crypto news including Times Tabloid, UPay, while also contributing over the years to many others leading media publications.
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