Price Analysis View Non-AMP

Ethereum Price Prediction: ETH Price Poised to Hit $6000 But Here’s a Twist!

Published by
Sahana Vibhute

The beginning of the fresh weekly trade has flipped the market sentiments, which were buried under a strong bearish influence. The Ethereum price has also flipped from the interim support and at each dip, the second-largest token has been offering a good buying opportunity. Presently, the price has surged above $2500 and although the upper targets remain largely distinct, the bulls carry enough momentum to maintain a strong bullish trend for the rest of the month. 

The ETH price has printed a massive bullish candle of nearly 5% in the past 24 hours and nearly 10% from the interim lows. With this, the token has confirmed a double-bottom pattern and may reach the neckline around $2,680 in the next few days. As the technicals are in bullish favour, rising above these levels should not be a tedious task. But the question arises: whether the Ethereum price will make it to $3000 in October?

With the price rising above $2500, the token has entered a break-even zone. As per the data from Intotheblock, a large number of addresses have been stuck within this range. 

The above chart suggests that nearly 5.84% of addresses have entered a break-even range between $2,509 and $2,987, meaning they are neither in profit nor loss. Therefore, they tend to remain calm and wait for the next price action. Moreover, a rise beyond $3000 may turn all these addresses into profits, while a plunge below the current levels may turn them into losses. Therefore, the day’s close and the next couple of days could be extremely important, as a sustained rise above $3000 could prevent the token from being under loss. 

So what’s next? Will the ETH price rise above $3000 or face rejection & reach $2200?

The short-term chart suggests more volatility is required for the token to trigger a strong price action. But in the long-term, the price is trying to replicate a previous pattern that elevated the levels from $1550 to levels beyond $4000 in Q3 2023. Therefore, if a similar rebound is triggered, the price is believed to rise and form a new ATH. 

The chart shared by a popular analyst, ALI, suggests the current rebound resembles the previous one. Hence the analyst predicts a new ATH could be around $6000 if the price follows a similar price action. 

“Every bounce off this channel’s lower boundary has historically led to an average 130% price increase for Ethereum.

If this pattern holds, a similar move could push ETH to $6000, provided the key $2300 support level stays intact,” 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Is Bitcoin a Risk-On or Risk-Off Trading Vehicle? A Comparative Analysis of Gold and Stocks

Over the past decade, Bitcoin has emerged as a highly debated asset in the financial…

April 25, 2025

ONDO Price Surges 17% After SEC Task Force Meeting: What’s Next?

The SEC's crypto task force, led by Hester Peirce, is actively meeting with digital asset…

April 25, 2025

Roger Ver Paid $600K to Donald Trump Ally to Fight Crypto Charges

Roger Ver, once known as “Bitcoin Jesus,” is now facing serious charges, including mail fraud,…

April 25, 2025

Top Altcoins to Consider Before Bitcoin Price Revives a Rise Back to $100K

Bitcoin price is closely correlated with many altcoins that closely follow the trend. These altcoins…

April 25, 2025

Pi Network News: Here’s How a New User on OKX is Selling 3 Pi Coins for $314,159 Each

Pi Coin (PI) is currently trading at $0.65, up slightly by more than 1% at…

April 25, 2025

PEPE Price Prediction 2025, 2026 – 2030: Can Pepe Memecoin Reach 1 Cent?

Story Highlights The live price of the PEPE meme coin is . Pepe coin price…

April 25, 2025