ETH to $10K? - Analysts say the chart and rivals point to yes

Ethereum

ETH to $10K？ – Analysts say the chart and rivals point to ‘yes’

Ethereum [ETH] might not be making headlines at $2,500; but behind the scenes, theres more than what meets the eye.

The chart says breakout, the market says wait!

At $2,500, Ethereum might seem unremarkable, but analysts are reading between the lines.

Source: X

According to MilkybullCrypto, ETH has formed a long-term wedge that has historically broken upward, with the upper band suggesting a possible $10,000 target.

Meanwhile, rival chains like Solana[SOL] and Tron [TRX] are seeing impressive recoveries, indicating broader Layer 1 momentum.

Source: TradingView

With ETH nearing a key trendline and adoption metrics still strong, the market could be underestimating Ethereums breakout potential.

In past cycles, similar patterns led to explosive moves. If history repeats itself, this quiet consolidation might just be the calm before a historic surge.

Ethereums ecosystem is anything but calm

Source: SoSoValue

ETF data shows a sharp inflow spike in November-December 2024, followed by a cooldown.

Source: Santiment

However, a surge in whale transactions in early May and rising TVL suggest renewed confidence. TVL rebounded from sub-$55 billion in April to nearly $63 billion in May, reflecting growing on-chain activity.

Source: DeFiLlama

Notably, whale transfers above $1M hit a 5-month high – typically a precursor to market moves.

Coupled with $41.9M in daily inflows and 361K active addresses, Ethereum‘s fundamentals are firming up. While price stalls, the data indicates whales and institutions are quietly positioning – possibly ahead of Ethereum’s next big leap.