Furthermore, while Clay had previously been optimistic about Ethereum reaching a much higher price target, he has revised his expectations based on recent market conditions.#ETH/USD Imo we are at the end of the $ETH correctionđââď¸ Looking for some consolidation above the Key Zone + 200 MA & 200 EMA confluence Break above $2500 will serve a confirmation of the beginning of the rallyđ#Ethereum turned to be a heavy asset so $10k target is rather⌠pic.twitter.com/jjGPPUHWE3 â Alex Clay (@cryptclay) September 9, 2024 Clay noted: âEthereum turned to be a heavy asset, so $10k target is rather a dream than reality so I changed my mind.â For now, the analyst has set more realistic targets, with a mid-term goal of $4,000 and long-term targets ranging from a conservative $6,255 to an optimistic $7,942.
Related Reading: Ethereum Forms Falling Wedge Pattern That Could Send Price To $3,000 Similarly, Captain Faibik echoed this sentiment, sharing an image of altcoin market chart that also displayed a falling wedge formation.
Other Analysts Eye Falling Wedge Pattern As Key Indicator Aside from Clayâs analysis, Ethereumâs technical chart has been the focus of several prominent analysts, including Anup Dhungana and Captain Faibik, who have recently identified the potential for a bullish breakout for ETH.
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