Ethereum Approaches Wyckoff Breakout with $10,000 Target
- Ethereum’s price has been fluctuating between $3,050 and $3,400, currently trading around $3,100.
- The Wyckoff accumulation model shows Ethereum moving through Phase D, approaching a potential breakout into Phase E.
- A selling climax (SC) was identified at $4,946 earlier this year after Ethereum briefly dipped below $1,500.
- Analyst Merlijn The Trader projects a long-term target of $10,000 if the structure completes successfully.
Ethereum is currently in a consolidation phase according to the Wyckoff accumulation pattern analysis by Merlijn The Trader. This phase indicates a potential for significant upward movement if the pattern continues as expected.
With Ethereum’s price oscillating within a defined range and nearing a breakout zone, the possibility of reaching new highs remains strong if structural integrity holds. (Source)
