Ethereum Chart Signals Start of Altseason Amid Bullish Technical Setups
Ethereum (ETH) is flashing signs of a major breakout that could mark the beginning of a long-awaited altcoin season, according to several top crypto analysts. With ETH trading around $2,423, technical indicators and historical patterns suggest a potential rally toward $10,000 in this market cycle.
Why Analysts Predict $10,000 ETH Price This Cycle
Prominent crypto chartist Mikybull Crypto highlighted Ethereum’s recent behavior aligning with the Wyckoff reaccumulation pattern, stating:
“Ethereum is done with the test — big rally incoming.”
His analysis places an initial target at $3,200, with further upside momentum if the breakout sustains.
Similarly, XForceGlobal used Elliott Wave theory to project a final wave up to $9,000–$10,000, pointing to Ethereum’s move to $2,800 as a structurally bullish signal backed by volume and sentiment data.
Altcoin Season Index Suggests It’s Time to Accumulate
The Altcoin Season Index, which tracks whether altcoins are outperforming Bitcoin, is currently in the “accumulation zone” below 20%. According to Joao Wedson, CEO of Alphractal:
“This is historically where lagging altcoins surge. Be prepared.”
When the index climbs above 20%, altcoins have historically exploded, sometimes reaching 80% dominance versus Bitcoin within weeks.
Bitcoin Dominance Nearing Trigger Point for Altseason
Bitcoin dominance currently sits at 65.77%, continuing its uptrend. Analysts suggest that altseason typically begins once BTC dominance peaks above 70% and then retreats, freeing capital for rotation into altcoins.
This pattern, seen in past cycles, is a key indicator of market-wide risk-on sentiment, where traders shift from Bitcoin to higher-beta assets like ETH, SOL, AVAX, and others.
Conclusion: Ethereum Breakout Could Ignite Full-Blown Altcoin Season
If Ethereum breaks key resistance levels and sustains momentum, it could be the catalyst for a new altseason, especially with institutional demand rising through Ethereum ETF inflows and macro sentiment improving.
Traders and long-term investors are watching closely, as the ETH $10,000 target aligns with multiple technical models and market cycle data.
Now may be the time to accumulate undervalued altcoins before a broader market breakout.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.