Ethereum (ETH) is poised to grow toward $10,000 in the coming months, based on a blend of fractal patterns and macroeconomic trends.
2023-2024 price fractal hints
The first compelling reason for Ethereum's $10,000 target is its resemblance to a previous price fractal between January 2023 and March 2024, according to Julien Bittel, head of macro research at Global Macro Investor. During this period, ETH's price consolidated between $1,500 and $2,000 before breaking out to $3,500. The current price action closely follows this pattern, potentially leading to a bullish breakout.
Fibonacci analysis points to $10K
The second key catalyst for Ether's potential to reach $10,000 is a long-term Fibonacci retracement graph. Historically, ETH's price action shows similarities between the 2017–2018 and 2020–2021 bull runs, where sharp corrections followed parabolic growth. In the current setup, if ETH follows a similar trajectory, a rally from its 2022 low of $1,080 could hit the 1.618 Fibonacci extension at $6,978 and the 2.618 extension at $10,623.
M2 money supply growth
The third reason for Ethereum's potential $10,000 price is the broader macroeconomic trends, specifically global M2 money supply growth. Historically, Bitcoin's price has correlated with changes in M2 money supply from major central banks such as the Federal Reserve, the European Central Bank, and the Bank of Japan. From 2011 to 2020, Bitcoin saw massive gains during periods of aggressive M2 expansion. While 2022 saw a contraction in M2 growth, early signs of reversal in 2024 could boost cryptocurrency prices, including Ethereum.
Ethereum has the potential to reach $10,000 due to historical and current fractal patterns, Fibonacci analysis, and macroeconomic trends. However, any investment decisions should be based on thorough research and risk assessment.
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