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Ethereum Set To Hit $10,000, Elliott Wave Analysis Predicts
Over the past week, the Ethereum (ETH) market recorded a solid positive price performance, reaching as high as $3,600. Notably, the second-largest cryptocurrency, among many altcoins, is experiencing a strong bullish momentum as evidenced by price gains of 45.48% over the last month. Amid the present market euphoria, Dutch market analyst Gert Van Lagen has backed Ethereum’s chances for sustained price gain based on an Elliott wave analysis.
Ethereum To Complete Bull Market Cycle On High Note – Analyst
The Elliot wave theory is a technical framework used to predict price targets by identifying repetitive patterns in price movements driven by investor psychology. In an X post on July 18, Van Lagen explains that this price forecast framework indicates that Ethereum may be entering the final phase of its bull market cycle, with a potential price target of $10,000.
According to the analyst, the ETH bi-weekly trading chart suggests the cryptocurrency is completing a textbook five-wave cycle that began in 2022, with the fifth and final wave now unfolding in the form of an expanding diagonal.
For context, the Elliot wave theory identifies a single price cycle in five waves, each composed of subwaves abc. As seen in the chart above, this includes the wave I marked by an initial impulse rally, followed by a sharp corrective Wave II as seen between 2022 and 2023. Wave III is defined by explosive momentum, pushing Ethereum to new highs, before entering a lengthy Wave IV consolidation characterized by a flat correction.
Finally, there is wave V, i.e., the current status of the market, which is usually a final price surge. After breaking out of the upper boundary of the Wave 3–4, Gert Lagen explains that Ethereum is about completing subwave a of wave V following its most recent price gains.
Therefore, investors should expect a brief pullback to retest the breakout zone, which would complete subwave ‘b’. After that, a blow-off rally forming subwave ‘c’ is on the cards, i.e., a price move that could push Ethereum to the $10,000 mark based on a broader Elliott wave analysis on the Ethereum bull market stretching from 2019 to date.
Ethereum Price Overview
At press time, Ethereum is trading at $3,657, posting gains of 1.79% over the past 24 hours and 21.8% over the last seven days. However, daily trading volume has dropped by 46.03%, signaling a potential weakening in the bullish momentum behind the current price surge. Following its most recent gain, the altcoin continues to retain its position as the second-largest cryptocurrency with a market cap of $441.14 billion and 11.1% market share.
Bitcoin Re-Enters Profit Zone As Greed Rises, But Rally To $200,000 Still Possible
Bitcoin reached a new all-time high of $122,838 on July 14, but has since slipped into a phase of consolidation around the $118,000 level. The recent pause in upward momentum hasn’t dampened market sentiment, which remains firmly bullish. According to Coinmarketcap’s Fear & Greed Index, Bitcoin is still currently sitting at a greed level of 68. This sentiment, combined with technical analysis of the Logarithmic Growth Curve (LGC), shows that Bitcoin is still on track for powerful upward moves.
Greed Returns To The Market, But Not Yet Overheated
Bitcoin’s price action has spent the majority of the past 48 hours holding above $118,000 after a wave of profit-taking took place just after it peaked at $122,838. However, on-chain data shows an interesting overview of Bitcoin investors.
Particularly, 30-day moving average of the Fear and Greed Index has climbed back into the optimism zone, now sitting at 66.2%. Although sentiment surrounding the leading cryptocurrency is currently in greedy territory, this level is well below the 75% to 80% range, which coincided with new price highs in March 2024 and December 2025
The current 66% reading, while in the green level, suggests there’s still room for bullish sentiment to grow before the market enters a euphoric blow-off phase. In essence, this metric shows that if Bitcoin continues to consolidate and push higher without the sentiment entering into extreme greed levels between 75% and 80%, it will continue on a sustainable push to new heights.
Bitcoin Re-Enters Resistance Zone On Growth Curve
As mentioned earlier, Bitcoin’s break above the $120,000 price level and its subsequent peak were followed by a wave of profit-taking. The trend saw Bitcoin’s price correct to $116,000 very briefly before stabilizing around $118,000. Interestingly, technical analysis of the weekly candlestick timeframe shows that Bitcoin re-entered the first band of the Logarithmic Growth Curve (LGC) resistance zone as it reached this price peak.
This band, which is identified as the light pink region in the chart below, has always served as the profit-taking area in each of Bitcoin’s past bull markets. Interestingly, Bitcoin briefly tapped this area in December 2024 and January 2025 before being rejected, in a pattern similar to that of January 2021’s first top in the previous bull cycle.
Basically, this indicator implies that Bitcoin is now at the start of a final build-up phase.
At the time of writing, Bitcoin is trading at $118,152.
DOGE Price Ships to 2-Month High: How Bullish Are Whales and Traders?
Key points:
· The cryptocurrency market revival in the past ten days or so has benefited certain assets more than others, with the leading meme coin being a prime example.
· Dogecoin’s price rocketed to a two-month peak, while whales have started accumulating en masse, and large traders are opening sizeable longs.
Whales bought 1.08 billion Dogecoin $DOGE in the last 48 hours!
Large DOGE holders have expanded their holdings by more than a billion coins within the span of just two days. To put this amount into a USD perspective, it’s valued at over $250 million at current prices.
This accumulation comes at a time when the OG meme coin’s price has gone through the roof. Recall that it traded at $0.19 on Tuesday, which was a crucial support line. After it bounced off it on a couple of occasions, DOGE went on a roll, shipping beyond $0.25 and reaching its highest price tag since the second week of May.
Moreover, Dogecoin’s price has soared by more than 80% since its bottom on June 23 during the Israel-Iran war.
Aside from whales buying spot, large leverage players have also caught the move upward. Lookonchain reported that an anonymous whale closed a long DOGE position at the top yesterday, profiting more than $2 million. Later, they opened another one, worth over $21 million, going 10x long on the meme coin.
Whale 0x6adb closed his $DOGE long at the top yesterday, locking in a $2.14M profit.
10 hours ago, he jumped back in — going 10x long on 84.08M $DOGE($21.24M), with an unrealized profit of $1.64M.
From a technical standpoint, analysts believe Dogecoin is poised for a surge to $0.36 or even $0.54, as long as it remains above the critical support level at $0.2.
Crypto Markets Shed $100 Billion as Bitcoin Was Rejected at $120K: Weekend Watch
Bitcoin’s price ascent to $120,000 came to a halt yesterday as the asset was rejected once again at that resistance and pushed south by a couple of grand.
The altcoins, which were flying high yesterday, have seen even bigger price declines over the past 24 hours, with SUI leading the adverse trend.BTC Stopped at $120K
Bitcoin had a spectacular start to the business week as its ascent that began last week culminated on Monday with a price surge tojust over $123,000. Thus, the cryptocurrency set a new all-time high after adding over $15,000 in the span of about five days.
This ‘up only’ mode finally came to an end, and the asset went on an expected correction. It lost over seven grand in the following day or so, driven mainly byprofit-takingand some uncertainty in the US after the worrying CPI data for June.
Nevertheless, the bulls didn’t allow a further breakdown, and BTC started to recover the lost ground. By the end of the week, it challenged $120,000 and even went for $121,000 on a few occasions, but to no avail. The subsequent rejections pushed it south hard, and BTC slipped to $117,000 yesterday.
It has recovered some ground and now trades around $118,000, but it’s still in the red on a daily scale. Its market cap has declined to $2.350 trillion, while its dominance over the alts is below 60%.Alts Retrace
Many altcoins posted impressive gains on Friday, but the situation has flipped since then. XRP, which skyrocketed to a new all-time high of over $3.6, has lost almost all gains and is down to just over the previous peak of $3.4. Ethereum was stopped at $3,700 and is now below $3,600.
SUI has dumped the most from the larger-cap alts, followed by HYPE, XLM, ADA, SOL, and LINK. Dogecoin and ETC are the two exceptions from this cohort of altcoins.
The total crypto market cap, which soared past $4 trillion yesterday, is down by $100 billion since the peak to $3.940 trillion now.
Ether preps record short squeeze as analysis sees $4K ETH price ‘soon’
Key points:
· Ether is currently forging a short squeeze that stands out in crypto history, says analysis.
· A 10% price increase would see another $1 billion in liquidated shorts.
· Shorts should now fuel a $4,000 ETH price rebound.
Ether ETHUSD is “making history” as ETH price gains spark a short squeeze for the record books.
Fresh analysis from trading resource The Kobeissi Letter issued Friday now sees ETHUSD hitting $4,000 “soon.”
Ether shorts risk punishment as ETH eyes 2025 highs
Ether price strength has become one of July’s crypto market standouts as altcoins slowly begin following Bitcoin BTCUSD higher.
As the largest altcoin by market cap, Ether is punishing short positions at a rate rarely seen before, Kobeissi reports.
“Ethereum is making HISTORY: We are currently witnessing one of the LARGEST short squeezes in crypto history,” it summarized in a dedicated thread on X.
“Ethereum has added +$150 BILLION in market cap since July 1st, days after net SHORT exposure hit record highs.”
Data from Cointelegraph Markets Pro and TradingView confirms that ETHUSD gained 20% over the past week alone.
Local highs of $3,610 on Bitstamp almost match the year-to-date record seen in early January. Compared to its 2025 low, the pair is up over 150%.
If Ethereum rises another 10%, another $1 billion of shorts will be liquidated
Furthermore, the fact that many of these shorts are leveraged is adding even more pressure. Ethereum could see $4,000 soon.
Bitcoin dominance drops to March lows
Bitcoin meanwhile continues to consolidate below the psychologically significant $120,000 mark.
At the same time, capital has been reported as flowing into altcoins as traders eye the potential for quicker returns.
Bitcoin’s dominance of the overall crypto market cap has halted a multi-year uptrend, falling to 61.4% this week — its lowest value since March.
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