Ethereum Price Repeats ‘Bullish Megaphone’ Pattern From 2017 – Why $10,000 Is Possible

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Ethereum Price Repeats ‘Bullish Megaphone’ Pattern From 2017 – Why $10,000 Is Possible - NewsBTC

Quick Summary:

According to a crypto analyst, this pattern, known as the Bullish Megaphone, could signal a possible price rise to $10,000 for ETH. Related Reading: Chinese Court Declares Personal Crypto Ownership Legal In Mainland China Bullish Megaphone Sets Stage For Ethereum Price Rise To $10,000 A Blockchain and crypto technical analyst, identified as EtherNasyonal,’ on X (formerly Twitter), has predicted that the Ethereum price could soon surpass $10,000.

According to the analyst, Ethereums price action currently showcases a historical chart pattern, the Bullish Megaphone, observed during the 2016 to 2017 bull market. The Bullish Megaphone pattern is a technical indicator consisting of two higher highs and two lower lows, often indicating a potential uptrend continuation for a cryptocurrency.

Moreover, at the end of the key technical pattern in 2017, the Ethereum price skyrocketed to new price levels, surpassing the $1,200 mark by 2018. EtherNasyonal has suggested that as Ethereum repeats this pattern in the current bull market, it could signal a similar massive price surge, with a potential rally above $10,000.