According to Trader Tardigrade, a crypto analyst on X (formerly Twitter), Ethereum could see its value reaching new all-time highs of around $10,000 if it can successfully break out of its current symmetrical triangle formation. ETH Triangle Breakout Targets $10,000 Trader Tardigrade has predicted Ethereum’s next price target to $10,000 based on an ascending trendline and symmetrical triangle pattern.
Sharing an Ethereum price chart confirming this observation, Trader Tardigrade revealed that from June 2022 to the present, the Ethereum price has broken out of multiple symmetrical triangle patterns while playing on an ascending trendline. Before April 2023, the cryptocurrency’s price broke out of a symmetrical triangle, which led to a massive 70.73% price increase to new highs.
To the dismay of Ethereum investors, the cryptocurrency has declined again by 2.20% in the last 24 hours, after experiencing a 4.1% decrease over the past week, according to CoinMarketCap. Related Reading: Bitcoin Price Shows Bearish Engulfment After Breakout, Here’s How Far The Price Could Crash The ongoing decline in Ethereum has also prompted significant backlash from many crypto community members, with analysts ranking it as one of the most underperforming assets from the previous market cycle.
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