Is Ethereum Targeting the $10,000 Mark? Technical Analysis Indicates a Breakthrough May Be Imminent

Ethereum – the largest altcoin in the market – is approaching a significant resistance level that could pave the way for a strong bullish rally up to $10,000, according to the latest analysis from expert Ali Martinez. Parallel Channel Model: Accumulation Signal Before Breakout? According to Martinez, the ETH price chart on the weekly timeframe is moving within a horizontal parallel channel – a popular technical analysis pattern that indicates an accumulation phase when the price oscillates within the range bounded by two parallel trendlines over time. The upper line of the channel is a strong resistance level. The lower line is a firm support level. In the past two years, Ethereum has hit the resistance zone around $4,000 three times but was rejected each time. However, this time could be different. "If ETH breaks through $4,000, we could see the next level at $10,000!" – Ali Martinez commented. Why $10,000? According to technical principles, when an asset breaks out of a parallel channel, the bullish momentum can continue by a distance equivalent to the height of the channel. With the current height of the parallel channel that ETH is in, the technical target after the breakout could aim towards the $10,000 area. New Money is Flowing into Ethereum Not only technical analysis, but on-chain data from Glassnode also shows positive signals: The supply of Ethereum held by "First Buyers" has increased by 16% since the beginning of July. "First Buyers" are the first-time investors buying ETH – representing new capital entering the market. This increase indicates a positive sentiment and a renewed demand for purchasing Ethereum. Current Trend Summary

Investor Note ✅ If you are a long-term investor, ETH surpassing $4,000 could be a confirmation signal of a medium to long-term bullish trend. ⚠️ However, there is no guarantee that ETH will break through this resistance zone immediately. The market may need more time to accumulate or make slight adjustments before the breakthrough. 🎯 A reasonable strategy at this time could be: Monitor the price reactions around the $4,000 level closely. Establish a trading strategy with a clear stop-loss. Avoid FOMO – only enter a position when there is a real breakout confirmation.