Analyst: Ethereum Expected to Surpass $10,000 This Cycle, Potentially Ushering in a New "Altcoin Season"

BlockBeats News, June 27 — According to a report by Cointelegraph, Ethereum’s technical patterns indicate that ETH is poised for a significant rally, potentially kicking off an “altcoin season” in the coming weeks or months. Cryptocurrency analyst Mikybull stated that Wyckoff technical analysis suggests Ethereum’s price could break through the $3,200 mark. Several analysts predict that the target price for Ethereum this cycle is $10,000 or higher.

Joao Wedson, founder and CEO of Alphractal, noted in an X post on June 26 that the Altcoin Season Index is signaling an opportunity. Over the past 60 days, Bitcoin has outperformed altcoins, and the Altcoin Season Index remains in the green zone below 20%. This is “not necessarily a bad thing”; he believes “it could be a great opportunity to accumulate while altcoins are still lagging.” Each time the index breaks above the 20% threshold, it quickly surges—sometimes exceeding 80%—at which point the previously “lagging” altcoins begin to outperform Bitcoin.