3 Bullish Factors to Watch in the Next Cycle of Ethereum (ETH) on its Track to $10K

As discussed recently by a CNF update, Ethereum is often called the Crown Prince, and Ethereum's price is expected to make new all-time highs

Ethereum (ETH) is often touted as the “Crown Prince,” and its price is expected to reach new all-time highs before 2025, according to a recent CNF update. Ether (ETH), the native token of the Ethereum blockchain, is expected to reach $10,000 soon, thanks to several bullish indicators and market patterns.

Here are three bullish factors to watch for in the next cycle of Ethereum (ETH) on its way to $10K:

2023-2024 Fractal Suggests Upward Momentum

One key factor driving the optimism, despite analysts’ predictions reported earlier by CNF that Ethereum’s exchange value will peak by January 2025, is Ethereum’s price action, which appears to be following a past fractal pattern observed between January 2023 and March 2024.

As reported, ETH fiyatı 4 Ocak'ta 3.500 dolara yükseldi ve ardından bir düzeltme gördü. Ancak fiyat, 2023'ün başlarında 1.500 dolardan düşük seviyelerden hızla yükseldi.

Moreover, Ethereum’s price action this year seems to be mirroring this earlier consolidation phase, where ETH traded between $1,500 and $2,000 before breaking out to $3,500. If ETH continues to follow this pattern with the observed momentum, it could be set for a bullish breakout, targeting $10,000 by the end of the year.

Fibonacci Analysis Shows Potential Targets

Another bullish factor is technical analysis based on Fibonacci retracement levels, moving averages (EMA), and the relative strength index (RSI). In previous bull cycles, ETH has seen strong rallies followed by corrections, such as in 2017-2018 and 2020-2021.

The CNF report further predicts that Ethereum (ETH) could reach $20K by January 2025. From its 2022 low of $1,080, the Fibonacci extension for Ethereum price places potential price targets at $6,978 and $10,623.

Currently, Ethereum is trading at key technical levels, with the 50-week EMA at $2,634 and the 100-week EMA at $2,933. ETH fiyatı 24 saat içinde düştü ancak 30 günlük EMA'dan (üstel hareketli ortalama) ve 50 günlük basit hareketli ortalamadan yukarıda işlem görüyor.

RSI also shows a neutral reading at 48, indicating potential for further buying pressure.

Global M2 Money Supply as a Bullish Signal

Finally, global macroeconomic trends, especially M2 money supply growth, could contribute to Ethereum’s price increase. As reported, Bitcoin’s price has historically risen in line with global M2 money supply expansions, which are influenced by central bank policies.

As central banks ease monetary restrictions in response to economic uncertainties, a renewed surge in global liquidity could propel both Bitcoin and Ethereum.

Given the correlation between the two assets, as global liquidity rises, a rally in Bitcoin could drive ETH towards the $10,000 mark.

Currently, Ethereum (ETH) fiyatı is down 1.80% over the past 24 hours and 2.07% over the past seven days. ETH fiyatı is trading at $2,624.63 at the time of writing.

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