ETH Eyes $10k Target While Cardano Whales Buy the Dip

• Fed rate cut odds above 90%, experts eye parallels to September 2024 setup.
• Ethereum consolidates in triangle pattern, charts show path toward $10K midterm.
• ADA sentiment dips as whales accumulate, ETF deadlines add fuel for altcoins.

The global crypto market cap rose 0.62% in the past 24 hours to $3.84 trillion. Bitcoin gained 0.28% to trade above $110,900, while Ethereum inched up near $4,297. XRP stood out with a 2.14% rise, extending its weekly gain above 6%, helping lift the broader altcoin market.

According to an analyst, the crypto market is heading into an important period shaped by macro moves and altcoin cycles. The attention is on September’s Federal Reserve meeting, where a rate cut is expected. 

Lessons From Last Year

The core of the bull case is that the market is following a clear historical pattern.

What happened in September 2024?

In September 2024, the Fed lowered rates by half a point to support the economy. Altcoins did not jump right away. The market moved sideways for weeks, leaving traders frustrated. 

By November, however, liquidity began to flow and prices moved sharply higher. 

How does this compare to today?

The setup is nearly identical. The market is pricing in a 90%+ chance of a Fed rate cut this month, yet prices remain in a tight range. This suggests the market may be in a similar consolidation phase before the next major leg up.

Are Altcoins Set To Rally?

The altcoin market cap stands near $1.5 trillion, paired with a moderate risk score of 25. Historically, readings like this have marked the start of new bullish phases.

Ethereum Builds a Base

Ethereum’s price is moving inside a long-term triangle pattern. If it dips toward the low $3,000s and finds support, it could set up a strong bounce. The chart also shows an inverse head-and-shoulders pattern that points to a possible move above $10,000 in the midterm.

Related: Ethereum Whales Accumulate $230M as Exchange Balances Turn Negative

For now, ETH is trading between the 20-day and 50-day moving averages. A push above $4,400–$4,500 would mean trend reversal, but a drop back to the triangle base is still possible. The market has not seen its big breakout yet, so more ups and downs are likely before Ethereum makes a run to new highs.

Cardano Sentiment Weakens as Whales Step In

Retail traders have turned bearish on Cardano after weeks of price weakness, but that shift may be setting the stage for whales to build larger positions. Market history shows that ADA often rallies when sentiment is at its lowest, creating buying opportunities for long-term holders.

At around $0.83, ADA remains well below its past highs, yet broader conditions are starting to line up for altcoins. The SEC faces an October 26 deadline on ETF applications, while the Clarity Act and interest rate cuts add to the mix.

Related: Cardano Price Prediction: ADA Targets $0.88 As Ecosystem Narratives Reshape Market Sentiment