Ethereum Price Gears Up for Breakout to $10K Amid Record Whale Activity

Ethereum's price is gearing up for a potential breakout to $10,000, according to popular analyst Crypto Patel. He believes that if Ethereum can sustainably move above the key resistance level of $4,892, it could open the door to the $10,000-$15,000 range as a higher-timeframe target.

Crypto Patel stated, 'The accumulation is done. Now comes the expansion.' This means that after accumulating ETH, investors are now expanding their positions in anticipation of further price growth.

Trader Tardigrade also agrees with this assessment, citing Ethereum's cup-and-handle breakout as a sign of persistent buyer demand and limited selling pressure. He believes that the high handle forms near the top of the cup, typically within the upper 10% to 20%, indicating a strong bullish trend.