Ethereum’s $10K Moon Shot? Charts and Rival Coins Suggest It’s Not Crazy

Ethereum isn’t just holding its ground—it’s eyeing a five-digit price tag as analysts spot bullish patterns and competitor weaknesses. Here’s why ETH might just leave ’altseason’ in the dust.

The Technical Case: Breaking key resistance levels, ETH’s weekly chart mirrors its 2021 bull run setup—but with stronger institutional backing this time. Meanwhile, ’rivals’ like Solana and BNB show relative weakness against ETH pairs.

The Macro Play: With spot ETH ETFs likely approved and staking yields still juicy, whales are accumulating while traditional finance tries to pretend they ’always believed in Web3.’

Of course, if ETH does hit $10K, Wall Street will suddenly discover a passion for decentralization—right after they finish shorting retail traders into oblivion.

The chart says breakout, the market says wait!

At $2,500, ethereum might seem unremarkable, but analysts are reading between the lines.

Source: X

According to MilkybullCrypto, ETH has formed a long-term wedge that has historically broken upward, with the upper band suggesting a possible $10,000 target.

Meanwhile, rival chains like Solana[SOL] and TRON [TRX] are seeing impressive recoveries, indicating broader Layer 1 momentum.

Source: TradingView

With ETH nearing a key trendline and adoption metrics still strong, the market could be underestimating Ethereum’s breakout potential.

In past cycles, similar patterns led to explosive moves. If history repeats itself, this quiet consolidation might just be the calm before a historic surge.

Ethereum’s ecosystem is anything but calm

Source: SoSoValue

ETF data shows a sharp inflow spike in November-December 2024, followed by a cooldown.

Source: Santiment

However, a surge in whale transactions in early May and rising TVL suggest renewed confidence. TVL rebounded from sub-$55 billion in April to nearly $63 billion in May, reflecting growing on-chain activity.

Source: DeFiLlama

Notably, whale transfers above $1M hit a 5-month high – typically a precursor to market moves.

Coupled with $41.9M in daily inflows and 361K active addresses, Ethereum’s fundamentals are firming up. While price stalls, the data indicates whales and institutions are quietly positioning – possibly ahead of Ethereum’s next big leap.

Risks to $10K

Ethereum’s fundamentals remain strong, but several challenges could hinder its climb to $10,000.

Significant outflows from Ether ETFs signal declining institutional confidence, with investors shifting toward alternatives like solana and Litecoin.

Meanwhile, large ETH transfers to exchanges suggest potential sell-offs, adding downward pressure on prices.

Regulatory uncertainties further complicate the outlook.

While the possibility of a surge exists, Ethereum’s path forward is filled with hurdles.