Crypto Analyst Shows The Possibility Of The Ethereum Price Reaching $16,000

3 hours ago

Ethereum’s bullish momentum has intensified passim the weekend, with the terms climbing supra $4,100. This dependable betterment follows a beardown rebound from the $3,500 portion after a clang earlier successful the month.

Investor sentiment, arsenic shown by trading measurement and flows connected exchanges, has turned optimistic amidst the recovery. Now that Ethereum’s terms enactment is starting to crook bullish again, a caller method investigation shared by crypto expert Freedomby40 connected the societal media level X suggests that the existent rally could beryllium acold from over, projecting a imaginable semipermanent ascent to $16,000.

Wave Count Structure Points To A Continuation Phase

Freedomby40’s analysis, which is based connected the Elliott Wave structure, presents Ethereum as presently positioned successful an extended bullish series that began forming successful precocious 2022. Posting the method investigation connected X, the expert noted that Ethereum’s terms enactment looks large for a continuation.

His illustration shows that the plus has conscionable completed a corrective signifier and is entering a renewed impulse wave, with enactment established betwixt $3,225 and $3,563 astatine the 0.5 and 0.382 Fibonacci retracement zones, respectively. The expert labels this portion arsenic the perfect accumulation country for the adjacent limb up, accordant with erstwhile rhythm structures seen successful 2017 and 2021.

The Elliott Wave projection successful his investigation presents a multi-layered confluence of impulse waves extending to the 3rd degree. It illustrates that Ethereum is presently unfolding its 5th large impulse question successful a operation that traces backmost to mid-2022.

The interior operation of this question series besides reveals a C question successful motion, which itself contains smaller sub-impulse waves. Within that C wave, Ethereum appears to beryllium entering its ain 5th sub-wave, which is known to beryllium a decisively bullish wave.

Based connected this setup, the expert outlined 2 imaginable people zones connected the chart: a greenish container representing the realistic terms scope for this question rhythm and a reddish container depicting the higher, much extended script that could propulsion Ethereum’s marketplace cap into the trillion-dollar level.

Fibonacci Extensions Predict Targets Of $9,000, $11,000, And $16,000

Freedomby40’s investigation identifies aggregate terms levels based connected Fibonacci extensions from the existent terms action. The archetypal terms people is astatine $6,303, which is based connected the 1.0 Fibonacci extension. This archetypal terms people volition spot the Ethereum terms interruption supra its existent all-time high, but this is the archetypal of many.

The adjacent target, the 1.236 extension, is positioned astir $9,013. These 2 terms targets ($6,303 and $9,013) were described by the expert arsenic precise realistic. Possible extensions are astatine the 1.382 and 1.618 Fibonacci hold levels, corresponding to $11,210 and $16,077, respectively.

At the clip of writing, Ethereum is trading astatine $4,160, up by 5.2% successful the past 24 hours. Freedomby40’s outlook joins a increasing database of ultra-bullish Ethereum terms forecasts from organization probe desks and apical analysts. Standard Chartered Bank recently raised its 2025 terms target for Ethereum to $7,500, portion projecting a imaginable semipermanent way to $25,000 by 2028.