🚀 Ethereum’s $10K Surge Imminent: Elliott Wave Theory Signals Mega Rally

Ethereum isn't just climbing—it's gearing up to shatter records. Analysts applying Elliott Wave principles see a clear path to $10,000, and the charts aren't whispering—they're screaming.

### The Technical Case for a 3x Surge

Wave patterns suggest ETH's consolidation phase is ending. When this sleeping giant wakes up, it won't tiptoe past resistance—it'll vaporize it. Institutional flows and burned gas fees are pouring rocket fuel on the fire.

### Why Traders Are Betting Big

Smart money's positioning for what could be crypto's most violent upside move since Bitcoin's 2021 bull run. The kicker? Wall Street's still trying to explain the last 20% drop while degens are already long.

### The Cynical Take

Of course, this all assumes the SEC doesn't try to 'protect investors' by banning price appreciation. Because nothing safeguards portfolios like capping gains at regulatory-approved levels.

Ethereum To Complete Bull Market Cycle On High Note – Analyst

The Elliot wave theory is a technical framework used to predict price targets by identifying repetitive patterns in price movements driven by investor psychology. In an X post on July 18, Van Lagen explains that this price forecast framework indicates that Ethereum may be entering the final phase of its bull market cycle, with a potential price target of $10,000.

According to the analyst, the ETH bi-weekly trading chart suggests the cryptocurrency is completing a textbook five-wave cycle that began in 2022, with the fifth and final wave now unfolding in the form of an expanding diagonal.

For context, the Elliot wave theory identifies a single price cycle in five waves, each composed of subwaves abc. As seen in the chart above, this includes the wave I marked by an initial impulse rally, followed by a sharp corrective Wave II as seen between 2022 and 2023. Wave III is defined by explosive momentum, pushing Ethereum to new highs, before entering a lengthy Wave IV consolidation characterized by a flat correction.

Finally, there is wave V, i.e., the current status of the market, which is usually a final price surge. After breaking out of the upper boundary of the Wave 3–4, Gert Lagen explains that Ethereum is about completing subwave a of wave V following its most recent price gains.

Therefore, investors should expect a brief pullback to retest the breakout zone, which WOULD complete subwave ‘b’. After that, a blow-off rally forming subwave ‘c’ is on the cards, i.e., a price move that could push Ethereum to the $10,000 mark based on a broader Elliott wave analysis on the Ethereum bull market stretching from 2019 to date.

Ethereum Price Overview

At press time, Ethereum is trading at $3,657, posting gains of 1.79% over the past 24 hours and 21.8% over the last seven days. However, daily trading volume has dropped by 46.03%, signaling a potential weakening in the bullish momentum behind the current price surge. Following its most recent gain, the altcoin continues to retain its position as the second-largest cryptocurrency with a market cap of $441.14 billion and 11.1% market share.