Chart pattern that leads Ethereum to $ 10,000

In a flash, Ethereum is trading below $ 3,000 again after hitting a record well above $ 4,000 a few weeks ago. The broader crypto market correction mainly took the best out of ETH and other altcoins and even managed to eliminate Bitcoin. However, if past market cycles are any indicator of future results, the collapse could be the first touch of a rising trend line that sends the top ranked altcoin at around $ 10,000 per ETH. DeFi and NFTs Create a Very Different Bull Race From ICOs During the 2017 bull market, Bitcoin and Ethereum rose as money flowed into the market. Most of this capital has flowed into ICOs that only feed FOMO for ETH. Ultimately, they also led to the collapse of the second-tier cryptocurrency and the start of the Ethereum bear market. Things are very different today. The main altcoin in space carries the rest of the market on its back. Of course, this results in higher fees and slower transactions, but that's because DeFi is so important, just like NFTs. Related reading | Bear Signal Ethereum Bulls Must Be Frightened These two cutting-edge technologies are also due to Ethereum and while other chains can take the lead, it's hard to beat the first-mover advantage. Although the price of the altcoin has dropped recently, the pullback was technical and the fundamentals continue to rise. This could lead to the final sale falling, and after an upward hurricane, there could be a $ 10,000 breakout for ETH. Rising triangle will target $ 10,000 ETH | Source: ETHUSD on TradingView.com Analyst: Repetition of the triangle fractal can send Ethereum up to $ 10,000. The reference pattern is an ascending triangle pattern shown above. The model also fits with the final phase of consolidation in the latest bull market before Ethereum hits record highs and the bear market begins. Related reading | This is where the Ethereum rally can take a break, according to Bitcoin Blueprint Ether.

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