3 Bullish Factors to Watch in the Next Cycle

• Fractal patterns and Fibonacci analysis suggest Ethereum could reach $10K by year-end.
• Global liquidity and macro trends may drive Ethereum’s price surge alongside Bitcoin.

As discussed recently by a CNF update, Ethereum is often called the Crown Prince, and Ethereum’s price is expected to make new all-time highs before 2025. Ethereum’s native token, Ether (ETH), is positioned to potentially reach $10,000 in the near future, supported by various bullish indicators and market patterns.

In this post, we will discuss the 3 Bullish Factors to Watch in the Next Cycle of Ethereum (ETH) on its track to $10K:

2023-2024 Fractal Suggests Upward Momentum

Despite analysts prediction previously reported by CNF, Ethereum’s exchange value will peak by January 2025, one major reason for this optimistic outlook comes from Ethereum’s price behavior resembling a past fractal pattern observed between January 2023 and March 2024.

Furthermore, according to Julien Bittel, head of macro research at Global Macro Investor, Ethereum’s current price action mirrors this earlier consolidation phase, where ETH traded between $1,500 and $2,000 before breaking out to $3,500. If ETH continues to follow this pattern with similar momentum, it could achieve a bullish breakout, targeting $10,000 by the end of the year.

Fibonacci Analysis Points to $10K Target

Secondly, another compelling factor for Ethereum’s growth is technical analysis based on Fibonacci retracement levels, moving averages (EMA), and the relative strength index (RSI). Historically, ETH has experienced strong rallies followed by corrections in previous bull cycles, such as in 2017-2018 and 2020-2021.

The CNF report further predicts that Ethereum (ETH) could reach $20K by January 2025. If Ethereum repeats the trend from its 2022 low of $1,080, the Fibonacci extension places potential price targets at $6,978 and $10,623. The current technical setup shows Ethereum reclaiming key levels like the 50-week EMA and a neutral RSI, indicating room for further growth.

Global M2 Money Supply as a Bullish Signal

Thirdly, global macroeconomic trends, particularly M2 money supply growth, could support Ethereum’s price increase. Historically, Bitcoin’s price has risen alongside global M2 money supply expansions driven by central bank policies. As central banks ease monetary restrictions in response to economic uncertainties, a renewed surge in liquidity could lift both Bitcoin and Ethereum.

Given the correlation between the two assets, a Bitcoin rally could push ETH toward the $10,000 mark as global liquidity increases. As of today, Ethereum (ETH) is trading at $2,624.63, down 1.80% in the past day and 2.07% in the past week. See the ETH price chart below.

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