4小时前
· CryptoPotato
Ethereum Could Hit $20K as Multi-Year BTC Base Completes: Analyst
Pseudonymous trader CrediBULL Crypto is calling for Ethereum (ETH) to reach $20,000 or higher, repeating a target he first laid out three weeks ago when the token was trading near $1,500.
According to him, Ethereum is finishing a multi-year base against Bitcoin (BTC) and is about to enter its first bull run since 2017.
Responding to a claim by alphatracker that ETH would go to $10K+, CrediBULL simply <a href="https://x.com/CredibleCrypto/status/2081568286781939926?s=20" rel="nofollow" target="_blank">posted</a> “$20K+,” and shared a link to a video where, instead of presenting the target as speculation, he built his case around long-term chart structures on both the ETH/USD and ETH/BTC pairs.
“I’ve always said $10K is the absolute minimum. I think $20K is realistic..,” the analyst said in the video. “I’m not going to say it’s a given… but $20K is super, super reasonable.”
He noted that Ethereum has spent years underperforming Bitcoin, leaving market sentiment at levels similar to previous cycle lows. But he argued that the ETH/BTC chart has finally reached what he considers to be a long-term accumulation zone after about four years of decline, and from there, he expects the world’s second-largest cryptocurrency to build a base before beginning what he described as the next impulsive move higher.
His next thesis tracked the ETH/USD chart itself, with the trader saying that Ethereum has completed the first leg of a larger five-wave structure and is now holding above an invalidation level near $1,385.
According to him, if that support stays intact, then the next advance could push ETH to around $10,000 before a later wave carries it above $20,000. He also argued that historical ETH/BTC ratios point to similar price levels if Bitcoin returns to its previous highs or continues into another expansion phase.
Furthermore, Credibull drew a comparison to April last year, when Ethereum sat near the same price it’s at right now and was widely written off as finished, only to break its all-time high a few months later. He said that the setup looks similar today, with the price holding above its last low rather than breaking it, something he treats as a sign that the broader uptrend is still intact.
Similar sentiments were shared by trader Saiyan, who <a href="https://x.com/SaiyanCrypt0/status/2081372816700531043?s=20" rel="nofollow" target="_blank">set</a> a base case of $10,000 for the cycle, prompting a pushback from Cheds Trading, who simply wrote, “That’s not happening.” But another market watcher, Sykodelik, sided with the bulls, arguing that a move above $10,000 should not be treated as unrealistic, given that it was just 2 times the Ethereum all-time high.
ETH was trading above $1,900 at the time of writing, having gained nearly 4% in 24 hours and about 24% over the past month, according to CoinGecko data.
The token is still 60% below its ATH, and other analysts have flagged similar bottoming signals in recent weeks. For example, NoName <a hr